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Titan joins Sea-LNG to broaden infrastructure skill base of coalition

SEA-LNG and Titan LNG have today announced that Titan will become a member of the coalition. SEA-LNG and Titan particularly recognized that together, and in combination with SEA-LNG’s wider membership, they can expedite the decarbonization of the maritime sector through impactful advocacy on the use of LNG and its bio and synthetic LNG cousins.

Israel Lng Smaller

LNG offers a transition to net-zero GHG emissions based on incremental decarbonization of existing assets as fuel production, transportation, storage and bunkering infrastructure, and engine technologies develop. These innovations will also not come about automatically. Collaboration across the maritime value chain is essential to drive the required innovation and investment. SEA-LNG is proud to have expertise spanning LNG production, bunkering, engine technology, ship owning, banking and port and ship operations from all around the world among its membership. This combination of finance, operations and technical expertise in supply chains and infrastructure for LNG as a marine fuel will deliver for the LNG sector.

Steve Esau, chief operating officer at SEA-LNG commented: “Titan has a strong track record of being at the cutting-edge of LNG as a marine fuel and, at the moment, this particularly involves scaling up the production of bioLNG. Its expertise fit in seamlessly with ours and those of our members. We’re pleased that Titan is joining and we’re looking forward to working with its fantastic team on LNG bunkering, bioLNG supply and much more.”

Michael Schaap, Titan LNG’s commercial director marine said: “Scaling up production is a key challenge for all alternative marine fuels. Therefore, it’s important to share knowledge and expertise. SEA-LNG has a strong network of industry experts and plays a critical role in outlining the benefits of LNG to the market and supporting innovation by facilitating collaboration. As Titan continues to expand the supply of bioLNG, despite challenging market conditions, we anticipate membership of SEA-LNG will bring real benefits to the business and our customers.”

Titan has always been an innovator in the LNG sector. The company’s recent announcement with partners of a 2,400 ton per year bioLNG production plant demonstrates its pioneer status. The plant is backed by the EU and scheduled to come online in 2023, after which Titan has agreed on an exclusive long-term contract to be the project off-taker and supply the bioLNG to the maritime industry.

SEA-LNG continues to build an impressive roster of LNG stakeholders to support its commitment to develop and communicate independent, fact-based analysis of the commercial, environmental and operational benefits of LNG as a marine fuel. As an example, SEA-LNG recently analysed the effects of bioLNG on vessel compliance under the IMO’s Carbon Intensity Indicator (CII) system. The analysis shows that LNG will allow vessels to meet their CII obligations until 2030, while thereafter, for every 10% increase in bioLNG or renewable synthetic LNG blended with traditional LNG, the vessel will gain two years of additional compliance.

Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo


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