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Fluxys focuses investment on Zeebrugge's fifth LNG tank and second jetty

21 Sep 2017 13:16 GMT

Company says most of its EUR 36m investments in H1 went towards building extra storage and the new jetty in Zeebrugge.



Fluxys said in its report for the first half (H1) of 2017, released on Wednesday, that it spent EUR 36.0 million, or 35 percent, of its 2017 investment budget of EUR 103 million in H1, most of which went towards the construction of the fifth LNG storage tank and second jetty at the LNG terminal in Zeebrugge.

Construction on the LNG tank began in mid-2015. Once completed, the terminal's storage capacity will surpass half a million cubic metres (cbm), making it one of the largest LNG terminals in Europe.

The fifth tank alone will be able to store up to 180,000 cbm of LNG, making it the Zeebrugge terminal's largest.

As well as building extra tank capacity in preparation for an increase in LNG bunker demand, Fluxys will from next year be offering LNG transshipment services at the Zeebrugge LNG terminal for Yamal LNG, which is currently building an LNG production facility in Northeast Siberia.

Small-scale LNG

Fluxys explained in its H1 financial report that the Zeebrugge LNG terminal is diversifying its offering with a view to capitalising on the new market for small-scale LNG.

The number of loading operations involving small LNG vessels is said to have increased slightly between January and June, with the world's first purpose-built LNG bunkering vessel, the Engie Zeebrugge, commencing supply operations during the period.

The number of LNG tanker truck loading operations was said to have been stable - despite the launch of similar services at other terminals in North-Western Europe.

A second loading station is due to be built at the terminal in 2018, Fluxys said, with the project receiving financial support from the European Commission.

Second jetty

Fluxys said in its half-year report that the commissioning of the second jetty at the Zeebrugge LNG terminal in late 2016 marked a "milestone in the development of natural gas as a marine fuel".

The new jetty is designed to receive LNG carriers ranging from the smallest ships with an LNG capacity of 2,000 cbm up to larger vessels with a 217,000-cbm capacity.

With the second jetty now in operation, small bunker vessels such as the Engie Zeebrugge are able to berth at the terminal to load LNG and then resupply to LNG-powered ships or small bunker terminals.

H1 results

In its key financial figures for H1, Fluxys posted a net profit of EUR 22.898 million, representing a year-on-year (YoY) rise of 3.216 million, or 16.3 percent.

Operating income rose EUR 12.948 million, or 5.4 percent, to EUR 250.708 million.

Image: The Fluxys LNG terminal in Zeebrugge.




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Zeebrugge
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