World News
Elengy and Gate Terminal to Cooperate on Development of LNG Services, Including Bunkering
Elengy, an Engie subsidiary, Thursday announced that it has signed a Memorandum of Understanding (MoU) with Gate terminal B.V. (Gate terminal) for the cooperation on the development of liquefied natural gas (LNG) related services, including bunkering and truck loading.
The agreement, which was signed by Stefaan Adriaens and Pierre Cotin, Commercial Directors of Gate terminal and Elengy, respectively, is said to show the companies' intention to work together to enhance several LNG services for the benefit of their customers.
"Gate terminal and Elengy share the vision that European gas markets are becoming more interconnected, LNG terminal services can strengthen this trend by progressively developing multi-site features," said Elengy.
Under the agreement, Gate terminal and Elengy will study plans to support the adoption of LNG logistics by small carriers, specifically related to new LNG uses such as bunkering, in order to contribute innovative solutions European LNG market.
The MoU will also see the companies work to develop a truck loading service.
"As a more robust LNG chain is key for the development of this new market, Gate terminal and Elengy will actively look forward to standardising their practices to make truck loading a safer, simpler and more efficient service," explained Elengy.
On Wednesday, correcting earlier reports, Isabelle Kocher, CEO of Engie, said the company is not considering the sale of its LNG business, adding: "gas really is part of our activities."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 511.00 | 11.50 | 602.50 | 10.00 |
| Rotterdam | 479.00 | 1.00 | 618.50 | 1.50 |
| Houston | 464.50 | 4.00 | 615.50 | 5.00 |
| Fujairah | 506.00 | 2.50 | 703.50 | 7.50 |
| Global 20 Ports Average | 532.00 | 4.50 | 708.50 | 4.00 |
| Global 4 Ports Average | 490.00 | 4.50 | 635.00 | 6.00 |
| Global Average Bunker Price | 570.00 | 1.00 | 752.50 | 6.00 |
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