EMEA News
Gazpromneft Marine Bunker Looks to Double Fleet, Focus on LNG Bunkering
Gazpromneft Marine Bunker (GMB) this week has reiterated plans to double its fleet size, as well as turning its focus to liquified natural gas (LNG) bunkering in response to stricter Emissions Control Area (ECA) rules comming into effect next year.
"Next year will see the introduction of stringent fuel in Emission Control Areas, which will increase demand for low-sulphur fuel," said CEO Andrey Vasiliev.
"To that end, we are focusing on the development of a new market sector in LNG bunkering, aiming to secure a foothold in this sector by 2025."
Effective January 1, 2015, marine fuel used inside ECAs cannot exceed 0.10 percent by weight, down from the current limit of 1.0 percent.
"In the long term we plan to more than double the size of the fleet. We are also lining up investment in the modernisation of our terminal complexes," said Vasiliev.
The Russian bunker player currently has 11 vessels, eight of which are located in Russia.
"This is half the number stated in the company's strategy," Vasiliev noted earlier this year.
GMB says it conducts bunkering operations at 19 sea and 13 river ports throughout Russia, as well as a number of European international ports including Tallinn, Riga, and Constanta.
For the first nine months of 2014, GMB reported sales of bunkers hit 3.1 million tonnes for the period, compared to total sales of 3.2 million tonnes for the whole of 2013.
