Clean Marine Fuels: Total Charters Four New LNG-powered Vessels
October 28 2020 - 3:50AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) is pursuing its strategy
to reduce greenhouse gases emissions in maritime transportation, by
chartering four Aframax-type vessels equipped with Liquified
Natural Gas (LNG) propulsion. These vessels, each with a capacity
of 110,000 tons of crude oil or refined products, will be delivered
in 2023 and will join the time-chartered fleet of Total. The first
two vessels will be chartered from shipowner Hafnia, and the
remaining two from Viken Shipping.
The vessels have been designed with the most efficient LNG
propulsion technologies to reduce emissions, allowing a significant
decrease in Greenhouse Gases, of more than 5,000 tons per year and
per ship compared to conventional vessels.
"This chartering contract is in line with our Climate Ambition
and will contribute to our Net Zero carbon neutrality target by
2050 or before. This contract follows a similar one, signed earlier
this year, for two LNG-powered VLCC (Very Large Crude Carriers), to
be delivered in 2022." underlined Luc Gillet, Senior Vice President
Shipping at Total. "LNG as a Marine Fuel remains the best and
immediately available solution to reduce the carbon footprint of
our shipping activities. With these four new vessels, we reaffirm
our commitment to expand the use of cleaner marine fuels, for a
more sustainable shipping".
The supply of LNG for these four LNG-powered vessels will be
provided by Total Marine Fuels Global Solutions, Total's dedicated
business unit in charge of worldwide bunkering activities.
LNG as a marine fuel, the best and immediately available solution to reduce
the environmental footprint of maritime transport A true technological
breakthrough in the service of environmental protection, LNG is now the best
available and technologically proven solution to significantly reduce the
environmental footprint of maritime transport. Compared to ships powered by
fuel oil, its use results in a reduction of: -- 99% of sulphur oxide
emissions; -- 99% of fine particles emissions; -- Up to 85% of nitrogen oxide
emissions; -- About 20% of greenhouse gases emissions.
Total, 2(nd) Largest Private Global LNG Player
Total is the second-largest private global LNG player, with an
overall portfolio of around 50 Mt/y by 2025 and a worldwide market
share of 10%. With over 34 Mt of LNG managed in 2019, the Group has
solid and diversified positions across the LNG value chain. Through
its stakes in liquefaction plants located in Qatar, Nigeria,
Russia, Norway, Oman, Egypt, the United Arab Emirates, the United
States, Australia or Angola, the Group sells LNG in all
markets.
About Total
Total is a major energy player, which produces and markets
fuels, natural gas and electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201028005461/en/
CONTACT: Total Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: TOTAL
Copyright Business Wire 2020
(END) Dow Jones Newswires
October 28, 2020 03:35 ET (07:35 GMT)
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