Bomin, Linde form liquefied natural gas JV marine market

Bomin, Linde form liquefied natural gas JV for marine market

7:34 AM, 6th August 2012
Bomin, Linde form liquefied natural gas JV for marine market

MUNICH, GERMANY: Marquard & Bahls through its subsidiary Bomin and Linde Group will establish a joint venture company in order to build an infrastructure for liquefied natural gas (LNG) in the maritime sector in Europe. Subject to approval of relevant antitrust authorities, the 50/50 joint venture company is due to start operations in the latter part of 2012 with its headquarters in Hamburg.

The new joint venture will establish an LNG supply chain and provide reliable, environmentally friendly fuel to ship owners and operators. Linde will contribute its experience in cryogenics and engineering know-how while Bomin will support with maritime bunker fuel trading and operations. The new company will establish operations in a number of key ports throughout the so-called “Emission Control Areas (ECAs)” in North-West Europe. Vessel emissions in ECAs will have to be reduced further on January 1st 2015, forcing ship owners to limit their sulphur emissions drastically. For this, the use of LNG as a solution requires a network of LNG storage facilities to be set up for bunkering of vessels in main European harbours.

“With the new joint venture company we want to offer LNG to ship owners as an alternative energy source with a lower environmental impact than traditional bunker fuels,” said Dr Claus-Georg Nette, Executive Board Member, Marquard & Bahls AG.

“Combining our expertise in bunkering with Linde’s gases and engineering know-how adds support to the emerging LNG-fuel market. As this partnership shows, Bomin is determined to remain innovative, offering multiple fuelling solutions wherever we can,” said Peter Schreiber, CEO, Bomin Group.

“A readily available and cost-effective LNG infrastructure is key to the development of LNG as a maritime fuel. This new joint venture underpins our LNG strategy,” said Professor Dr Aldo Belloni, Executive Board Member, Linde AG.

Global demand for LNG is expected to increase by more than 10 per cent per year, making it the fastest growing energy product in the world. In 2015, some 70 vessels are expected to run on LNG in the Nordic region. According to a study by the Danish Maritime Authority the consumption potential of LNG is estimated to reach approximately 4 million tonne by 2020.

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