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Petronas signs accord to provide STS LNG transfers

Two-year agreement signed with Eastport Marine and Argo Engineering.





Updated on 22 Nov 2017 16:25 GMT

Petronas LNG has signed a two-year service agreement with Argo Engineering Sdn Bhd and Eastport Marine Sdn Bhd to provide ship-to-ship (STS) LNG transfer services in the Malaysian port of Labuan, Petronas confirmed on Wednesday.

STS transfers are an emerging trend in the industry that facilitate the supply of LNG cargoes between two vessels positioned alongside each other, thus providing flexibility.

As Bunker Index reported earlier this year, Petronas's shipping subsidiary, MISC Berhad (MISC), has been participating in STS LNG transfers as part of a cooperation involving Chinese company JOVO, Koch Supply & Trading (Koch) and Teekay Marine Solutions. The operations have involved the mother vessel loading cargo from Australia before transferring it to a smaller daughter vessel at Subic Bay in the Philippines.

Commenting on the STS supply process, Petronas LNG chairman Ahmad Adly Alias said: "LNG ship-to-ship transfer services is an emerging trend to cater to the needs of small-scale LNG requirements."

Referring to the new accord, Adly Alias remarked: "This ship-to-ship transfer service agreement is Petronas's first collaboration in providing flexible delivery solutions that goes beyond the conventional selling and delivering of LNG."

Easport Marine is an experienced STS specialist that handles STS services at its dedicated site in Sabah, Malaysia. The company also has a licence to provide LNG bunkering and STS services at Brunei Bay, Labuan.

Argo Engineering, meanwhile, provides specialized market support, project management and consultancy services to companies in the oil and gas industry as well as the renewable energy markets.

In May, Petronas LNG and MISC inked a non-binding memorandum of understanding (MoU) with LNG bunker supplier Gas4Sea to explore a potential collaboration in promoting LNG as the preferred marine fuel.

Under the terms of the MoU, the parties agreed to explore ways to collaborate and identify potential business opportunities in relation to LNG bunkering.






Related Links:

Petronas, Gas4Sea sign MoU to promote LNG as preferred marine fuel
New supply chain development sees first LNG STS transfer in the Philippines
Malaysia

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