Stena, GES team up to look at LNG storage opportunities
Swedish shipping group Stena has partnered with Singapore-based storage terminal operator Global Energy Storage (GES) to look at opportunities in the LNG logistics and storage field.
The pair bring together experience of LNG terminals and logistics, from floating storage and regasification units to onshore terminals and fixed jetties, Bluewater, a private equity group that invested in GES in May, said while announcing the partnership on October 6. Stena's LNG and power unit also owns three LNG carriers which can be deployed as floating storage and regasification units, potentially using jettyless and offshore power solutions that do not require onshore facilities.
"We regard 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, GES CEO Peter Vucins commented.
He added that the partners were interested in opportunities in blue hydrogen production as well.
"By working with GES, 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," Stena Power and LNG Solutions chairman Goran Hermansson added.