Stena and Global Energy Storage pen LNG cooperation deal

A unit of Sweden’s Stena and Singapore-based Global Energy Storage are teaming up to work on LNG logistics and storage solutions.

In that regard, Stena Power and LNG Solutions and GES, backed by private equity firm Bluewater, have signed a strategic partnership, according to a joint statement on Wednesday.

Together, the two companies bring the “full range of LNG terminal and logistics expertise from floating storage and regasification units (FSRU) to onshore terminal and fixed jetty solutions,” the statement said.

Also, Stena owns three LNG carriers which it can deploy as FSRUs or floating storage, potentially together with its jetty-less and/or offshore power solutions that do not require onshore facilities, it said.

GES sees LNG as a “vital tool” in enabling developing economies and emerging markets to switch from traditional sources of energy to lower-carbon sources.

These economies, such as those in Southeast Asia and Latin America, continue to have a strong demand for gas and power, the statement said.

Peter Vucins, CEO of GES, said the firm regards LNG as an “important transition fuel, especially in emerging markets where there is a strong demand for gas and power and a structural need to switch from coal to lower carbon solutions such as LNG.”

Vucins added GES has also interest in exploring opportunities with regard to blue hydrogen production where LNG comes with carbon capture to make low carbon hydrogen.

“By working with Global Energy Storage, we can share our wide-ranging, industry-specific knowledge to better achieve our mutual objective of delivering more sustainable energy infrastructure solutions to communities across the world,” Göran Hermansson, chairman, Stena Power and LNG Solutions, said.

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