Titan LNG announced the development of a L[ds_preview]NG bunkering pontoon in North West Europe. The »Titan LNG Flex-Fueler« will give larger vessels access to LNG delivery in crucial ARA region.
Following rigorous research and development Titan LNG has designed and developed the first LNG bunkering pontoon in North West Europe, the »Titan LNG Flex-Fueler« for the safe delivery of LNG to both sea-going and river barges in ports in the ARA (Amsterdam – Rotterdam – Antwerp) region, Europe’s largest bunkering hub. The pontoon is designed to serve both inland waterway vessels as well as sea-going vessels while they load or unload their cargo. The company is said to be in permitting talks for a location near Amsterdam where the planned three-tank unit could be moored and in talks with severals shipyards.
»There is an increase in larger LNG-fuelled vessels coming into the market, which cannot bunker at land-based LNG stations, as the deviation costs are too high or is simply not an option due to draft restrictions«
Niels den Nijs, Commercial Director, Titan LNG
Titan LNG Flex-Fueler therefore minimizes costs and maximizes operational efficiencies, while unlocking access to safe and quick LNG delivery in the key ARA region. Titan LNG Flex-Fueler is currently more economical than conventional LNG bunker barge delivery due to its low Operational and Capital expenditure (CAPEX and OPEX) requirements, says the company.
Titan LNG Flex-Fueler boasts a double bottom, double hull with a length of 70 m and will be fitted with up to four tanks, each with a capacity of 300 cbm. Two cranes will be used for flexible hose guidance, and the discharge capacity range is between 30 and 450 cbm of LNG per hour. Titan LNG Flex-Fueler is capable of loading and unloading via ex-wharf, ex-truck and ex-vessel.
The shipping industry is seeing an increase in demand for LNG and bunkering infrastructure in line with MARPOL Annex VI regulations that stipulates the requirement to burn clean fuel (with a sulphur content of less than 0.1%) in Emission Control Areas (ECA’s). A global 0.5% sulphur limit could be implemented as early as 2020.
With the price of crude predicted to rise to $55 per barrel from mid-2017, the return on investment (ROI) in switching to LNG is reduced to less than five years. The ROI will further accelerate as the global 0.5% sulphur limit is implemented in 2020, in conjunction with crude prices climbing to between $60 and $80 per barrel.
Titan LNG chief executive officer Niels den Nijs said the company plans to take a final investment on the Amsterdam project by the end of this year with a view to seeing the first unit in operation by first quarter 2018.
