World News
Total to Work with Pavilion on Singapore LNG Bunkering
Total S.A. (Total) today announced that Total Marine Fuels Global Solutions and Pavilion Gas Pte Ltd (Pavilion Gas) have signed a Memorandum of Understanding (MoU) to cooperate on liquefied natural gas (LNG) bunkering in Singapore.
Under the MoU, which was signed by Patrick Pouyanné, Chairman and CEO of Total, and Seah Moon Ming, CEO of Pavilion Energy and Pavilion Gas, at Tokyo's GASTECH 2017, Pavilion Gas will supply LNG bunkers to Total Marine Fuels Global Solutions for LNG deliveries to its marine fuel customers in Singapore.
The agreement also sets out the option for the two parties to explore further cooperation on logistics for LNG bunkering activities.
"Our mission is to offer global and compliant solutions to our customers to meet the 2020 Global Cap requirements. Total has a long-established bunker activity and is also a strong worldwide LNG player, thus providing the required conditions to position the Group in the emerging LNG bunker market, where our ambition is to become a key player," said Pouyanné.
"In this context, developing a competitive worldwide LNG bunkering network will be key for the industry; securing access in the main hubs, such as Singapore, is part of our strategy. The MOU signed with Pavilion Gas is a real opportunity for Total to make further inroads in this promising new market."
As Ship & Bunker has reported, the Maritime and Port Authority of Singapore (MPA) awarded one of its first licences for LNG bunkering to Pavilion Gas last year.
"Pavilion Energy views LNG bunkering as a future driver for LNG demand growth and welcomes this MOU with Total. Our role as an LNG bunker supplier is reinforced by the appointment of Pavilion Gas as an LNG importer in Singapore," said Seah.
"The supply of LNG by Pavilion Gas as a bunker fuel in the port of Singapore supports Singapore's position as a leading bunkering port, and contributes towards establishing a global LNG bunkering ecosystem. Pavilion Energy is pleased to collaborate with industry partners to build a robust LNG bunkering hub in Singapore and the region."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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