Ecoslops, a technology company that regenerates ship-generated oil residues (or 'slops')
into fuels and light bitumen, has announced the implementation of a long-term agreement with Portuguese energy firm
Galp for the supply of refined slops to Galp's
Sines Refinery.
Under the agreement, Galp will purchase refined product at market price from Ecoslops' refinery, also in Sines.
To facilitate the delivery of product to Galp's refinery, Ecoslops has
built a dedicated pipeline connection between its tanks and Galp's crude oil pipeline. The
first deliveries to Galp took place in August, achieving a combined volume of
1,200 tonnes.
The agreement, scheduled to last until
the end of 2020, is designed to benefit both parties by slashing logistics costs.
Ecoslops says the volume it will deliver to Galp will fluctuate according to feedstock levels, but currently estimates that it will be able to deliver
10,000 tonnes per year.
Vincent Favier, Chairman and CEO of Ecoslops, said: "It is a great pleasure to enter this agreement with Galp for many reasons. Firstly, it provides further concrete evidence that our products achieve the best possible standards. It also demonstrates that
our circular economy model works perfectly, as part of the light product sold to Galp is produced by slops generated by the tankers that are regularly calling at Sines for the Galp refinery."
Jose Carlos Silva, COO Trading & Refining at Galp, remarked: "This first delivery is the result of a vision, after Ecoslops and Galp agreed in 2013 to establish a partnership to address the recycling of vessel's slops and represents a clear step towards sustainability."