Energy major TotalEnergies announced Wednesday that it has agreed with French shipping firm CMA CGM Group to form a joint venture to launch a first-of-its-kind liquefied natural gas (LNG) bunkering joint venture in the port of Rotterdam.
Under the 50-50 partnership, the two firms will co-develop and operate LNG bunkering infrastructure and services in the Amsterdam-Rotterdam-Antwerp (ARA) region, marking the first time a global shipping line and an energy company will collaborate on such operations, TotalEnergies said in a statement.
As part of the agreement, a new 20,000-cubic-meter LNG bunker vessel will be deployed in Rotterdam by the end of 2028 and jointly operated.
The vessel will complement TotalEnergies' existing infrastructure in the region, which includes the 18,600-cubic-meter LNG bunker vessel Gas Agility in service since 2020.
The joint venture will provide a comprehensive logistics service, including reload access at Gate terminal facilities and LNG bunker delivery to a wide range of vessels operating in the Amsterdam-Rotterdam-Antwerp region, serving both CMA CGM ships and other shipping operators.
To support CMA CGM's target of net-zero carbon emissions by 2050 and its planned fleet of 123 LNG-powered vessels by 2029, TotalEnergies will supply the company with up to 360,000 tons of LNG annually from 2028 through 2040.
Commenting on the deal, Patrick Pouyanne, chairman and CEO of TotalEnergies, said: "This strategic partnership not only strengthens our position as a major player in LNG bunkering but also illustrates the shared commitment of two leading French companies to actively support the energy transition."
By Handan Kazanci
Anadolu Agency
energy@aa.com