Molgas expanding European LNG bunkering business

European small-scale LNG player Molgas is working to further expand its liquefied natural gas bunkering business as the demand for the fuel continues to grow.

Molgas, owned by French private equity firm InfraVia Capital Partners, has significantly expanded its operations in the last two years, including the industrial sector, truck filling stations, and bunkering.

In 2021, the Madrid-based firm completed a deal with LNG giant Shell to buy Norway’s LNG supplier Gasnor and in the year after it acquired a controlling stake in Greece’s small-scale LNG firm, Blue Grid.

Now Molgas is working to “expand the existing footprint of the group (terminal-to-ship, multi-truck-to-ship, and ship-to-ship), opening new ports, and enabling the clients LNG supply across strategic locations in Europe,” COO Juan Menchero told LNG Prime on Friday.

The LNG bunkering business in Europe was hit last year due to surging prices. However, prices dropped significantly this year and owners such as Spain’s Balearia are now supplying only LNG to their dual-fuel vessels.

In addition, orders for LNG-powered vessels were at similar levels last month when compared to some months during the record last year, according to DNV.

DNV’s data shows that there are now 411 LNG-powered ships in operation around the globe, while owners placed orders for 526 LNG-fueled vessels.

Algericas LNG bunkering op

As part of its plans to further grow its LNG bunkering business, Menchero said that Molgas recently completed the first multi-truck-to-ship delivery at the Port of Algeciras.

The operation took place on July 5 and 6 and Molgas supplied about 110 tons of the fuel to an LNG-powered chemical tanker.

Molgas loaded LNG at the Enagas-operated terminals in Huelva and Cartagena.

Prior to the unloading of three LNG trucks, a cooldown and gas up process took place.

Working in close coordination with the Port of Algeciras, the group managed the unloading of three LNG trucks simultaneously, followed by an additional three trucks.

Menchero added that Molgas can complete such operation with up to four trucks simultaneously.

Most Popular

Cheniere takes FID on two more Corpus Christi LNG trains

US LNG exporting giant Cheniere has made a positive final investment decision to build two more midscale trains at its Corpus Christi LNG plant in Texas. The company has also issued full notice to proceed to Bechtel.

Golar progresses FLNG growth plans

Golar LNG said it had signed a final engineering study to confirm EPC price and delivery for a 5 mtpa MKIII FLNG.

Mexico Pacific seeks DOE extension

Mexico Pacific, the developer of the planned 15 mtpa Saguaro Energia LNG export project, is seeking a seven-year extension of its export deadline from the US Department of Energy.

More News Like This

Cosco Shipping’s yards get DNV OK for FLNG concept

China's Cosco Shipping (Qidong) Offshore and Cosco Shipping Shipyard (Nantong), both part of Cosco Shipping, have received approvals from classification society DNV for their nearshore floating LNG production unit.

GTT develops new ethane containment tech

French LNG containment giant GTT has received approvals from classification society BV for its new cargo containment systems developed for ethane transport.

Hudong-Zhonghua gets DNV OK for new LNG carrier

Chinese shipbuilder Hudong-Zhonghua has received approvals from classification society DNV for three new vessel designs, including a liquefied natural gas (LNG) carrier.

Samsung Heavy develops new FLNG concept

South Korean shipbuilding giant Samsung Heavy Industries has received approvals from three classification societies for its new multi-purpose FLNG concept.