Gazprom Group and Summa Group have signed a Memorandum of Understanding for LNG utilisation as a bunker fuel for marine vessels, including those owned and operated by Summa Group.
Gazprom and Summa Group will initially consider potential development of bunkering infrastructure in the North Sea and the Baltic Sea regions, particularly LNG storage facilities.
The two companies may later consider cooperation in the Black Sea and the Mediterranean Sea regions, where Summa Group currently operates vessels and a well-developed port infrastructure.
“The tough mandatory restrictions on emissions for marine vessels, carrying out transportation operations in the Baltic and North Seas, to be imposed after 2015, is the most important factor of switching to alternative fuel. LNG is the only fuel that meets the requirements for limitation of emissions by ship engines without the need to install expensive filters and it is favourably priced compared to low-sulfur petrochemicals. The technologies for vessels, ship engines and storage facilities for the vessels running on LNG are available and tested. The cooperation with Summa Group has good prospects,” said Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee.
“Owing to the united efforts of Summa Group as the infrastructure operator and Gazprom as the biggest global natural gas producer, a really breakthrough project will be implemented. I am sure it will have a long-term positive effect on the environmental friendliness of the marine transport not only in Russia but worldwide and will become a new industry standard,” stated Alexander Vinokurov, President of Summa Group.
Adapted from press release by Callum O’Reilly