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Building the LNG marine fuel supply chain Joseph Florentin Corporate Development Director being the step change for LNG marine fuel in East Med Piraeus 21 May 2018
Building the LNG marine fuel supply chain
Joseph Florentin Corporate Development Director
being the step change for LNG marine fuel in East Med Piraeus 21 May 2018
• The supply Chain
• Progress to date and schedule
• Advantage of Revithoussa/Piraeus - TPA
• Availability of supply
• Safety record
• Cost of LNG bunkering (principles)
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Contents
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The Supply Chain
LNG carrier LNG Terminal Bunker jetty Bunker vessel LNG fuelled vessel
Piraeus
Patras
Igoumenitsa
Heraklion
Limassol
or
Truck loading station Road tankers
• Bunker jetty in Revithoussa: Basic Design awarded in March 2018 expected finish end 2018
expected commissioning early 2022
o Interim solution under study (loading arm added to the existing jetty)
• Truck loading station: EPC tender issued. Bid due date: 21 June 2018 expected commissioning early 2020
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Progress to date and schedule
• Unbundling of energy business
• TPA = Third Party Access
• Revithoussa operates under third party access regime possibility of competition
• Satellite storage installations may operate as points of sales
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Advantage of Revithoussa/Piraeus - TPA
Integrated company
Trading company Transmission company
2007
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Availability of supply
• With the completion of the 3rd tank, the storage capacity of Revithoussa is
approximately equal to the annual national bunkering demand at a 10 years
horizon
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Safety Record
• There are approximately 100 LNG fueled ships with no major incident to date
• First LNG fueled ship in 2000
• Excellent safety record for Revithoussa since its commissioning in 2000
• Viking Grace has completed
approximately 1500 bunkering
operations since April 2013
• On top of the international LNG prices one has to consider:
o The charge for the use of the LNG terminal
o The charge for the use of the dedicated jetty
o The amortization of the bunker vessel(s)
o The operating cost of the bunker vessel
o Fixed
o Variable
o The levies received by the port authority
o The commercial margin of the LNG supplier
• The dedicated jetty charges will depend on : o The forecasted volume (main uncertainty factor) o The investment (and operating) cost of the dedicated jetty o The need for LNG to remain competitive
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Cost of LNG bunkering
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Bunker vessels Various solutions are available
Oizmendi (CEPSA)
Multi product bunker vessel 600 m3
Converted vessel 185 m3
Purpose designed vessels
LNG/C Seagas (AGA)
Amaltheia 1 1.000 m3
Amaltheia 7 7.000 m3
