The Gazprom board of directors completed a review on the outlook of the LNG bunkering market earlier this week, and confirmed the company’s commitment to the sector.
“Gazprom continues to build the LNG production, storage and shipment complex near the Portovaya compressor station. It is planned to use the plant’s output to, inter alia, bunker marine vessels in Russia. The core process equipment of the complex is being assembled at the moment,” a group statement said.
“Meanwhile, construction of an onshore LNG storage tank and berthing facilities is underway. The complex is slated to come onstream in 2019. In addition, Gazprom is exploring the possibilities of building plants in the area of the Black Sea and in Russia’s Far East.”
Gazpromneft Marine Bunker, the Gazprom’s single operator for selling LNG to end consumers in the bunkering market, is currently working on a project for an LNG bunkering vessel.
“Today, only four vessels of this kind exist worldwide, along with eleven small-scale gas carriers some of which are fitted out for LNG bunkering,” Gazprom noted.
The increased use of LNG as a bunker fuel was triggered by the IMO Marpol Convention. From 2020, a global 0.5% sulphur cap will be enforced.
“This measure is expected to significantly decrease the use of fuel oil and increase the consumption of LNG as a fuel meeting all of the environmental requirements set by Marpol,” Gazprom said.