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LNG BUNKERING MoU FOR US PORT

LNG BUNKERING MoU FOR US PORT

Thursday, August 5, 2021 

Galveston Wharves at the Port of Galveston and SEA-LNG Member Stabilis Solutions, a provider of energy transition services, including LNG and hydrogen fuelling solutions, have entered into a Memorandum of Understanding (MoU) to facilitate the use of LNG as a marine fuel at the Port.

Under the terms of the agreement, the Port and Stabilis will work together to provide turnkey LNG fuelling to marine vessels calling on the Port, including identifying suitable dock space for shore-to-ship fuelling operations, obtaining the necessary permits and approvals, identifying and educating potential customers, and executing LNG fuelling events.  Stabilis will deploy its existing fleet of mobile cryogenic assets, including LNG transportation and distribution equipment, and provide LNG from its liquefaction facilities in Texas and Louisiana to support LNG fuelling operations.  LNG bunkering services are expected to be available later in 2021.,

“Stabilis is proud to partner with the Galveston Wharves on this LNG marine bunkering opportunity,” said Jim Reddinger, President and CEO, Stabilis. “The use of LNG as a marine fuel is critical for marine operators to reduce their emissions profile, and Stabilis is building a North American network of LNG bunkering locations to provide this critical service to our marine customers.  The Port of Galveston is the second LNG marine fuelling location (along with the SEA-LNG Member Port of Corpus Christi) that Stabilis will operate on the Gulf Coast.  As our marine customers pursue their environmental, commercial, and operational goals in the energy transition, Stabilis will be there to support them.”

The number of LNG-powered vessels in the world fleet is growing rapidly as LNG fuel benefits marine customers in both efficiency and emissions reductions compared to conventional marine fuels.  According to DNV, demand for LNG as a marine fuel is projected to grow from approximately 1.0m t/yr in 2020 to nearly 4.0  m t/yr by 2024, a compound annual growth rate of over 30%. With this partnership providing LNG fuel and services, Stabilis and the Galveston Wharves hope to attract more LNG fuelled vessels and to encourage additional conversions to LNG fuel.  Stabilis and the Galveston Wharves have committed to providing extensive education and technical support to potential customers.

Rodger Rees, Port Director and CEO said: “The Galveston Wharves views LNG fuelling of marine vessels as an important step in our commitment to environmental stewardship, and with the number of LNG fuelled vessels in the global fleet growing rapidly, having LNG fuelling services in the port is also an important step in our commercial growth.  We look forward to working with Stabilis on this project.”

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