SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, today confirmed the addition of three new members to its coalition:
Mitsui & Co., Ltd.,
Sumitomo Corporation and
Novatek Gas & Power.
Bunker Index previously announced the SEA\LNG and Society for Gas as a Marine Fuel (SGMF) membership of Novatek Gas & Power on July 14.
In total, the SEA\LNG coalition now comprises
28 members. Welcoming the latest additions, SEA\LNG chairman and executive vice president, Tote,
Peter Keller, said: "Each of the global organisations brings with them a wealth of knowledge and experience that will be invaluable to SEA\LNG as we work to realise our goal of making LNG an important maritime fuel."
Mitsui & Co., Ltd. is a leading Japanese trading, investment, and service enterprise. In the field of LNG, Mitsui has invested in 11 projects, eight of which are in production. The company has also been proactive in LNG bunkering, participating in an LNG bunkering pilot programme in Singapore and signing an MoU with Gazprom to cooperate in LNG bunkering studies.
Kenichiro Yamaguchi, General Manager of Gas Business Development Division at Mitsui & Co., Ltd., remarked: "Mitsui has an excellent track record in the field of LNG and is well positioned to affect change within the entire value chain. As the IMO's global sulphur cap approaches in 2020, we continue to continuously advocate for cleaner energy, including the promotion of LNG as a marine fuel. We look forward to leveraging our company's position to work with our fellow members towards promoting sustainable LNG bunkering operations."
Novatek is one of the largest independent natural gas producers in Russia. Today, the company's upstream activities are concentrated in the Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area, accounting for approximately 80 percent of Russia's natural gas production and around 16 percent of the world's gas production. Long-term, the company has ambitious growth plans to become the world's biggest exporter of LNG within the next 10 years by tapping into Arctic gas.
The Chairman of Novatek's Management Board,
Leonid Mikhelson, noted: "The recent adoption of stricter emission standards for marine transportation by 2020 is consistent with our strategy for entering into new prospective LNG market segments including bunkering. Global environmental requirements create the basis for transiting the global fleet towards cleaner types of fuels. We are confident that more shipping companies will opt for LNG to meet these stricter requirements, and we are ready to facilitate the LNG bunkering market and infrastructure development."
Sumitomo is one of Japan's largest trading firms. The company has a strong presence on pipeline gas trading in the US, and has also been involved in an LNG liquefaction project in the US called 'Cove Point LNG Project', as well as LNG trading and owning/operating of LNG carriers.
Shuichi Suzuki, Executive Officer and General Manager of Energy Division, Sumitomo Corporation, said: "We are proud to be joining a coalition whose vision for LNG as a marine fuel aligns well with our mission statement and our business philosophy which is outlined in our 'Material Issues to Achieve Sustainable Growth with Society' framework, especially 'Achieving Harmony with the Global Environment'. We place strong emphasis on making an impact by leveraging our existing strengths, which is why we are excited to work in close partnership with other SEA\LNG members to continue to accelerate the widespread adoption of LNG as marine a fuel."
