Bomin and Linde Establish Joint Venture in Liquefied Natural Gas for the Marine Market
Bomin and The Linde Group, a technology company, announce the establishment of a joint venture company to build an infrastructure for liquefied natural gas (LNG) in the maritime sector in Europe. The 50/50 joint venture will be based in Hamburg and will start its operations in the latter part of 2012.
The aim of the new joint venture is to establish a reliable LNG supply chain that would provide safe, environmentally friendly fuel to ship owners and operators. Linde contributes its vast experience in cryogenics and its best in class engineering know-how, while Bomin supports the joint venture with its excellent track record in maritime bunker fuel trading and operations.
Vessel emissions in ECAs would have to be reduced further on January 1, 2015, forcing ship owners to limit their sulfur emissions drastically. Especially compared to conventional heavy fuel oil, LNG offers a near-100% reduction of emissions in sulfur and particulate matter, 80-85% in nitrogen oxides (NOx), and 20-25% in CO2 emissions. A network of LNG storage facilities is to be set up for the bunkering of vessels in main European harbors, so that LNG can help to meet the increasingly strict regulations.