Petronas Delivers Maiden Carbon Neutral LNG Cargo rigzone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rigzone.com Daily Mail and Mail on Sunday newspapers.
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ITOCHU Corp., headquartered in Minato-ku, Tokyo, ITOCHU ENEX Co. Ltd, Vopak Terminals Singapore Pte Ltd, Pavilion Energy Singapore Pte. Ltd, Mitsui O.S.K. Lines Ltd, (MOL) and TOTAL MARINE FUELS PRIVATE LIMITED, have announced that the parties have entered into a memorandum of understanding (MOU) on the joint development study of ammonia as a new marine fuel in Singapore.
ITOCHU executed the MOU with VOPAK in June 2020. The company has expertise in handling ammonia at their Banyan Terminal, Singapore. The company is taking a significant step into the further development of the ammonia supply chain in Singapore by inviting PAVILION ENERGY, MOL and TOTAL to enter into an MOU. These companies have expertise and experience at each business segment, and are engaging in LNG bunkering business in Singapore.
Oil, Gas, And Fracking News Read 25April 2021 econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
Natural gas prices in Europe and Asia are moving higher as the market has continued to tighten in a trend that’s setting the stage for a bullish summer for liquefied natural gas (LNG) exports.
Both the prompt Title Transfer Facility (TTF) and National Balancing Point contracts jumped above $7/MMBtu last week, while Japan-Korea Marker (JKM) futures shot above $8. The strength has spilled into this week as buying remains strong in both regions. All three benchmarks closed higher on Monday and Tuesday.
“The writing is on the wall, the global gas market is incredibly tight right now, and we don’t see this reversing course anytime soon,” said analysts at Tudor, Pickering, Holt & Co (TPH).
Pavilion Energy Singapore Pte. Ltd. has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country.
Pavilion Energy Singapore Pte. Ltd. has announced that it has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country, Pavilion Energy highlighted.
Carbon emissions associated with the LNG cargo from well to tank - including the extraction, production, transportation, and regasification - will be offset by retiring a corresponding amount of carbon credits sourced from the company’s portfolio of carbon offset projects, Pavilion Energy revealed.
The carbon credits used for the offset are from Natural Climate Solutions projects certified under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity Standard (CCB), Pavilion Energy noted. The projects - Evio Kuinaji Ese’Eja Cuana in Peru and Liangdu Afforestation in China - focus on the protection and restoration of forests and promote co-benefits