World News
Neste Jacobs in Agreement to Explore Finnish LNG Bunker Opportunities
Neste Jacobs Oy (Neste Jacobs) Tuesday announced that is has signed an agreement with the Finnish Port of Turku to investigate the viability and opportunities for liquefied natural gas (LNG) within the region, following a proposed LNG terminal for the Pansio harbour area, which includes plans to supply LNG bunkers.
The project is said to be set to analyse potential demand for LNG in the Turku area, including factors such as marine traffic to support bunkering potential, as well as other factors that could affect implementation.
"Port of Turku considers this project to be highly important as LNG is a future trend and we want to contribute to its development in the Turku area," said Christian Ramberg, CEO, Port of Turku.
"The use of LNG as a maritime or industrial fuel, outside the natural gas distribution network in Finland, requires guaranteed availability and distribution of LNG to a competitive price. Port of Turku wants to actively support the use of LNG together with Neste Jacobs and other companies in this field."
Neste Jacobs says that, overall, the project aims to make low emission and environmental friendly LNG available in the Turku area.
In March, The European Commission (EC) announced that it had approved Finnish plans to grant €28 million ($31.5 million) for the construction of a small scale LNG terminal on the country's South-East coast at Hamina.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 530.00 | 2.00 | 619.00 | 4.00 |
| Rotterdam | 470.00 | 2.50 | 626.00 | 3.00 |
| Houston | 465.50 | 4.00 | 624.00 | 3.00 |
| Fujairah | 507.00 | 12.50 | 713.50 | 11.50 |
| Global 20 Ports Average | 540.00 | 0.00 | 723.00 | 4.50 |
| Global 4 Ports Average | 493.00 | 5.50 | 645.50 | 4.00 |
| Global Average Bunker Price | 574.50 | 1.50 | 762.00 | 3.00 |
Popular Now More
-
May 13The firm will no longer take on new business after more than 45 years in bunkering. -
May 16The new hire was previously a credit analyst for PMG Energies in Greece. -
May 13The new hire was previously managing director and partner in the US for The Bunker Firm since March 2024, and had earlier worked for WFS for nine years.