REG-TOTAL Total Reinforces its Commitment to Develop Singapore Into a Major LNG Maritime Hub for Asia

TotalEnergies SEAnnouncement

15/03/2021 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210315:nBw46Lbdma&default-theme=true


Total Reinforces its Commitment to Develop Singapore Into a Major LNG Maritime
Hub for Asia

 

TOTAL (Paris:FP) (LSE:TTA) (NYSE:TOT):

The Maritime and Port Authority of Singapore (MPA) has awarded a third
Liquefied Natural Gas (LNG) bunker supplier license to Total’s subsidiary in
charge of worldwide bunkering activities, Total Marine Fuels Private Limited,
for a five-year term starting January 1(st), 2022.

This achievement follows a 10-year agreement signed by Total back in 2019, to
develop an LNG bunker supply chain in the port of Singapore. It reaffirms the
Company’s commitment to contribute to the country’s ambition in becoming a
key LNG bunkering hub for Asia. It also underscores Total’s confidence in
the role of natural gas for the global maritime industry’s energy transition
and in its potential to further reduce carbon emissions from ships, through
the development and future introduction of carbon-neutral bioLNG.

“We are proud to be awarded by the Maritime and Port Authority of Singapore
the licence to supply LNG. Singapore, as the world’s largest conventional
bunkering hub with a market share of 20 percent, is well positioned to become
a major hub for LNG as a marine fuel,” underlined Alexis Vovk, President,
Marketing & Services at Total. “Asia’s demand for LNG bunkering is
growing and the contribution of Singapore is of essence for the development of
a global LNG bunkering market. Moving forward, Total will continue to step up
investments to bring greater value of our integrated natural gas supply chain
to customers serving this important region, ultimately contributing to our
target of serving more than 10% of the global LNG bunker market.”

Total has actively invested in LNG infrastructure, critical to support its
shipping customers’ uptake of LNG as a marine fuel. Since November 2020,
Total has been operating the world’s largest LNG bunker vessel, the “Gas
Agility”, at the Port of Rotterdam. By 2022, the Company will launch another
newly built LNG bunker vessel in Marseille (France), while serving the port of
Singapore through a third one. As part of its strategy to reduce greenhouse
gases emissions in maritime transportation, Total has in parallel chartered
two VLCCs (Very Large Crude Carriers) and four Aframax-type vessels, all
equipped with LNG propulsion, which will be delivered in 2022 and 2023
respectively.

Total’s active efforts to develop LNG bunkering for maritime transport are
in line with the Company’s climate ambition to get to net-zero emissions by
2050, together with society. Furthermore, it embodies Total’s broader
marketing strategy towards the industries it serves, focusing on solutions to
reduce the carbon intensity of the energy products used by its customers
worldwide.

Total, Second Largest Private Global LNG Player

Total is the world's second largest privately owned LNG player, with a global
portfolio of nearly 50 Mtpa by 2025 and a global market share of around 10%.
The Group benefits from strong and diversified positions throughout the LNG
value chain: gas production and liquefaction, LNG transportation and trading,
and contribution to the development of the LNG industry for maritime
transport. Through its interests in liquefaction plants in Qatar, Nigeria,
Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States,
Australia and Angola, the Company markets LNG on all world markets.

About Total in Singapore

Total has established operations in Singapore for almost 40 years, with
activities ranging from regional headquarters, manufacturing, and research
& development and employing close to 600 staff. Business functions in
Singapore include Exploration & Production; Gas, Renewables & Power
(Total Eren, Total Solar); Marketing & Services (including Total's largest
lubricants blending plant in Tuas, and the global headquarters of Total Marine
Fuels Global Solutions); Trading & Shipping; Batteries (Saft); and smart
solutions for automotive and aviation (Hutchinson).

About Total

Total is a broad energy company that produces and markets fuels, natural gas
and electricity. Our 100,000 employees are committed to better energy that is
more affordable, more reliable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to become the
responsible energy major.

Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TOTAL SE directly or
indirectly owns investments are separate legal entities. TOTAL SE has no
liability for their acts or omissions. In this document, the terms
“Total”, “Total Group” and Group are sometimes used for convenience.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. This document may
contain forward-looking information and statements that are based on a number
of economic data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of its
subsidiaries assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this document
whether as a result of new information, future events or otherwise.

Total 

Media Relations: +33 1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)



View source version on businesswire.com:
https://www.businesswire.com/news/home/20210315005280/en/
(https://www.businesswire.com/news/home/20210315005280/en/)

Total


Copyright Business Wire 2021