Brightoil Hails First LNG Deal

by Ship & Bunker News Team
Thursday December 28, 2017

Brightoil Petroleum (Holdings) Limited (Brightoil Petroleum) [HKG:0933] (Brightoil) has hailed what it says is its first deal in the liquefied natural gas (LNG) space.

"Given the tighter regulation on environmental protection and growing demand of clean energy in China, the Company is firmly committed in the LNG business," the company said in a note last week.

"After years of efforts, the Company is pleased to announce the success in securing the very first LNG deal, in which our international client will take delivery of the LNG cargo before year end. LNG trading is an integral part of the Company's International Trading & Bunkering (ITB) business."

LNG is generally considered a less polluting alternative to other fossil fuels, and in the marine space is the frontrunner among several other alternative bunker fuels vying to take a slice of the traditional oil bunker market.

Writing in a Ship & Bunker Industry Insight piece today, Vincent Lagarrigue, Director, Trelleborg Oil and Marine said that while availability of the fuel is not an issue, the infrastructure required for getting it onto ships is proving to be a limiting factor for the industry.