October 23, 2015
ENGIE, Mitsubishi Corporation and NYK Line welcome Fluxys as co-owner of LNG bunkering vessel
23 October 2015 –Fluxys signed an agreement with ENGIE, Mitsubishi and NYK Line to acquire 25% in the vessel that will be offering LNG bunkering services from its home port of Zeebrugge, Belgium.
The liquefied natural gas (LNG) bunkering vessel, with a capacity of 5,100 cubic metres LNG, is currently under construction in South Korea and delivery is planned for the second half of 2016. Becoming a partner in the ownership of the LNG bunkering vessel fits Fluxys’ strategy to support the development of the small-scale LNG market.
LNG bunkering is taking off
LNG has a far better emission profile than traditional petroleum based sources and especially since sulphur emission regulations applicable in the North Sea Channel, North Sea and Baltic Sea have become more stringent since 1st January 2015, LNG as an alternative fuel for ships has been gaining in importance. According to a recent DNV-GL study the number of non-LNG carrier vessels running on LNG will reach 1,000 in 2020 or shortly thereafter.
Zeebrugge, an ideal place for LNG bunkering
The LNG bunkering vessel under construction will be chartered by the joint venture LNG bunkering company created by ENGIE, Mitsubishi and NYK Line for commercial operations. First bunkering contracts havealready been agreed upon. Within the framework of the long term access rights ENGIE has at the Fluxys LNG terminal in Zeebrugge, the LNG bunkering vessel will load LNG at the terminal. The vessel will then deliver the LNG by means of ship-to-ship transfer to newly ordered ships by UECC (United European Car Carriers), a Norwegian automobile carrier, which is located in the inner harbour of Zeebrugge.
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Fluxys is a Belgium-based, fully independent gas infrastructure group. The company is a major gas transit operator and its offering combines gas transmission, gas storage and terminalling of liquefied natural gas (LNG). Present across Europe, the company focuses on safe, efficient and sustainable operations, quality services in line with market expectations and creating long-term value for its shareholders.
Besides its pipeline, storage and LNG terminalling assets in Belgium (owned and operated by NYSE Euronext listed Fluxys Belgium), Fluxys’ partnerships include ownership in the Interconnector and BBL pipelines linking the UK with mainland Europe, the Dunkirk LNG terminal under construction in France, the NEL and TENP pipelines in Germany, the Transitgas pipeline in Switzerland, the Swedegas infrastructure in Sweden and the TAP pipeline from Turkey to Italy to be constructed so as to bring gas coming from Azerbaijan to Europe.
More information can be found on www.fluxys.com
ENGIE is a global LNG player and the main European LNG importer. Today ENGIE has one of the largest LNG supply portfolios in the world. It controls a large fleet of 14 LNG carriers under medium and long term charter agreements. The fleet is permanently optimized to satisfy ENGIE’s long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world.
About Mitsubishi Corporation and its Energy Business
Mitsubishi Corporation currently has eight Business Groups which develop operations in the diverse fields of Global Environment & Infrastructure Business Development; Business Service Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials.
Mitsubishi Corporation’s Energy group aspires to make a valuable contribution to society through the provision of stable supplies of energy. Our business model seeks to cover areas ranging from upstream to downstream in the energy value chain. We explore for, develop and produce oil and gas, and have investments in numerous LNG projects and related business model worldwide.
About NYK Line
NYK Line (Nippon Yusen Kabushiki Kaisha) is one of the world's leading transportation companies. At the end of March 2015, the NYK Group was operating 869 major ocean vessels, as well as fleets of planes and trucks.
The company's shipping fleet includes 408 bulk carriers, 123 car carriers, 104 containerships (including semi-containerships), 69 LNG carriers (including those owned by equity method affiliates), 68 tankers, 48 wood-chip carriers, one cruise ship, and 48 other ships (including multipurpose and project cargo).
NYK's revenue in fiscal 2014 exceeded $24 billion, and as a group NYK employs about 33,520 people worldwide. NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo.
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