Societe Generale brings an essential financial perspective to the multi-sector industry coalition which aims to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel.
SEA\LNG chairman and Tote evp Peter Keller said: “As the 0.5% global sulphur cap from January 2020 edges ever closer, the case for LNG as a marine fuel continues to gather momentum. Innovative financing is a core component to breaking down barriers to adoption and Societe Generale is at the forefront of developing frameworks to support this evolution. We are therefore delighted to welcome them to our growing coalition and look forward to benefiting from their extensive knowledge and experience.”
The addition of Societe Generale to the coalition further strengthens SEA\LNG’s collaborative membership which continues to leverage knowledge, networks, and real-life examples to obtain a competitive global LNG value chain for cleaner maritime shipping.
Paul Taylor, Global Head of Shipping Finance, Societe Generale Corporate & Investment Banking said: “The use of LNG as a marine fuel is gradually becoming a global reality. In line with our wider environmental commitment to promoting greener solutions, Societe Generale recognises the benefits of LNG in lowering local pollution and greenhouse gas emissions, when compared with traditional marine fuels. Societe Generale wants to play a key role in supporting the SEA\LNG coalition to realise its goal of making LNG a viable maritime fuel for 2020 and beyond. This strategic membership will help develop a long-term financial framework which we hope will contribute to, and supplement, the work of other industry leaders in the LNG shipping value chain.”