(Reuters) -TotalEnergies and French shipping group CMA CGM have launched a joint venture to operate a liquefied natural gas (LNG) bunker supply solution at the Dutch port of Rotterdam, the French oil
TotalEnergies and CMA CGM Form Joint Venture for LNG Bunkering in Rotterdam
Joint Venture Overview
(Reuters) -TotalEnergies and French shipping group CMA CGM have launched a joint venture to operate a liquefied natural gas (LNG) bunker supply solution at the Dutch port of Rotterdam, the French oil major said on Wednesday.
LNG Supply Agreement
Europe is looking at importing more LGN from the U.S. amid tariff talks and as it tries to cut gas imports from Russia. TotalEnergies is the world's third largest LNG player and the largest LNG exporter out of the United States.
Environmental Impact of LNG
The 50/50 venture between the two France-based groups will develop a 20,000 cubic metre LNG bunker vessel with operations expected to start in 2028, TotalEnergies said.
Under the agreement, it expects to supply CMA CGM with up to 360,000 tons of LNG per year until 2040.
"LNG is today the most mature and immediately available solution to reduce the environmental footprint of maritime transport," TotalEnergies' Chairman and CEO Patrick Pouyanné said in a statement.
(Reporting by Alessandro Parodi in Gdansk, editing by Milla Nissi-Prussak)
