Regulatory News:
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TOTAL (Paris:FP) (LSE:TTA) (NYSE:TOT):
Total and MSC Cruises officialised today a supply agreement for
approximately 45,000 tons per year of Liquefied Natural Gas (LNG)
to MSC Cruises' upcoming LNG-powered cruise ships to make calls in
the port of Marseille (France).
This agreement underlines a strong collaborative action across
the French maritime industry and the excellence of its value chain,
from shipbuilding to the supply of cleaner marine fuels, and the
involvement of local port authorities to enable the vessels' safe
operatorship.
Pierfrancesco Vago, MSC Cruises' Executive Chairman, said: "This
agreement represents a further step in our ongoing journey towards
continuously reducing our environmental footprint, for which LNG is
currently a crucial component. As we prepare to launch our first of
three upcoming LNG-powered cruise ships in 2022, through this key
agreement Marseille will become our hub in the Mediterranean for
the refuelling of our latest-generation and most environmentally
advanced ships."
Alexis Vovk, President, Marketing & Services at Total,
declared: "We are proud to be developing the first LNG bunker
supply chain in France, at the port of Marseille-Fos, together with
shipping industry leaders such as MSC Cruises with whom we nurture
a long-lasting partnership worldwide in the field of bunkering
services. Total will continue to step up investments in LNG
bunkering to ultimately reach its target of serving more than 10%
of the global market. By doing so, we will continue to accompany
the energy transition of the shipping industry and the reduction of
carbon emissions of our customers, in line with our Climate
ambition to get to Net Zero by 2050, together with society."
The signature of this agreement has been placed under the high
patronage of Annick Girardin, French Minister for Marine Affairs.
It benefits from the direct support of the Minister, who has
declared: "I welcome this agreement between MSC Cruises and Total.
This is a strong commitment to the environment, which demonstrates
that when major economic players commit to the ecological
transition, they can access new levers for economic development.
This is also what maritime France is all about! This agreement also
illustrates France's full potential for competitiveness and
attractiveness. In line with the Fontenoy maritime forum, I wish
that these links between shipowners, energy companies, ports and
shipyards will continue to develop, in line with the sustainable
development goals."
Used as a marine fuel, LNG sharply reduces emissions from ships,
resulting in a significant improvement in air quality, particularly
for communities in coastal areas and port cities. This agreement
therefore impacts positively not only the city where LNG bunkering
will take place, Marseille, but also all the ports where the cruise
ships will make their future call around the Mediterranean Sea.
MSC Cruises' LNG powered vessels will be amongst the most
technologically advanced cruise ships in the world, bringing a
range of environmental innovations to the market. Chief amongst
these is a 50-kilowatt, LNG-powered solid oxide fuel cell
technology project that offers a potential to further reduce
significantly greenhouse gas emissions compared to a conventional
LNG engine.
Total will bunker MSC Cruises' LNG-powered cruise ships sailing
on Mediterranean routes by ship-to-ship transfer, using its second
LNG bunker vessel currently under construction. This vessel will
meet the highest technical and environmental standards, using LNG
herself as propulsion fuel and integrating a complete
re-liquefaction of the boil-off gas.
By 2022, Total will operate two 18,600-m(3) LNG bunkering
vessels in Rotterdam and Marseille and share the use of a third
bunker vessel in Singapore. In February 2021, the Company also
received a license from the Maritime & Port Authority of
Singapore (MPA) to supply LNG in the Port of Singapore from
2022.
LNG as a marine fuel
LNG as a marine fuel has gained positive momentum as the global
shipping industry looks to adapt to stricter emissions
standards.
Used as a marine fuel, LNG helps to cut:
-- Sulfur emissions by 99%,
-- Fine particle emissions by 99%,
-- Nitrogen oxide emissions by up to 85%,
-- Greenhouse gases emissions by around 20%.
LNG represents an available and competitive solution that
contributes to the International Maritime Organization's (IMO)
long-term strategy of reducing greenhouse gas emissions from ships.
Traction in developing LNG bunkering infrastructure has
consequently expanded with several leading ports and LNG bunker
suppliers alike having established key initiatives and made
significant progress in support of these developments. LNG as a
marine fuel also lays the foundation for the introduction of
greener bioLNG in the future.
Total, Second Largest Private Global LNG Player
Total is the world's second largest privately owned LNG player,
with a global portfolio of nearly 50 Mtpa by 2025 and a global
market share of around 10%. The Group benefits from strong and
diversified positions throughout the LNG value chain: gas
production and liquefaction, LNG transportation and trading, and
contribution to the development of the LNG industry for maritime
transport. Through its interests in liquefaction plants in Qatar,
Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the
United States, Australia and Angola, the Company markets LNG on all
world markets
About Total
Total is a broad energy group that 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.
About MSC Cruises
MSC Cruises is the world's third largest cruise brand as well as
the leader in Europe, South America, the Gulf region and Southern
Africa with more market share in addition to deployed capacity than
any other player. It is also the fastest growing global cruise
brand with a strong presence in the Caribbean, North America and
the Far East markets.
Headquartered in Geneva, Switzerland, MSC Cruises one of the two
brands that sit within the Cruises Division of MSC Group, the
leading privately held Swiss-based shipping and logistics
conglomerate with over 300 years of maritime heritage. MSC Cruises
-- the contemporary brand - has a modern fleet of 18 vessels
combined with a sizeable future global investment portfolio of new
vessels. The fleet is projected to grow to 23 cruise ships by 2025
with options for six vessel orders in place through 2030.
The Company's number one priority has always been the health and
safety of its guests and crew, as well as the communities at the
destinations its ships serve. In August 2020, MSC Cruises
implemented a new comprehensive and robust health and safety
protocol to become the first major line to return to sea. To learn
more about MSC Cruises' health & safety protocol please see
here.
MSC Cruises has long been committed to environmental stewardship
with a long-term goal to achieve zero emissions for its operations.
The Company is also a significant investor in next-generation
environmental marine technologies, with the objective to support
their accelerated development and availability industry-wide. To
learn more about the Company's environmental commitment please see
here.
Finally, to learn more about the MSC Foundation, MSC Group's own
vehicle to lead, focus and advance its conservation, humanitarian
and cultural commitments please see here.
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/20210325005359/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor relations: +44 (0)207 719 7962 l ir@total.com
MSC Cruise
Giles Read: +41 79 797 33 51 l giles.read@msccruises.com
SOURCE: TOTAL
Copyright Business Wire 2021
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