Total to Supply CMA CGM With 300,000 Tons of LNG
04 Décembre 2017 - 12:28PM
Dow Jones News
By Marc Bisbal Arias
Total SA (FP.FR) said Monday that it has signed an agreement
with French shipping company CMA CGM to supply around 300,000 tons
of liquefied natural gas--or LNG--per year for 10 years, starting
in 2020.
The deal, between CMA CGM and Total's affiliate Total Marine
Fuels Global Solutions, will fuel CMA CGM's nine newbuild container
ships with scheduled delivery from 2020 onwards, the oil-and-gas
company said.
Under this agreement, Total will provide a tailor-made solution
for LNG supply. The company is also considering chartering on a
long-term basis a LNG bunkering vessel that would deliver fuel to
CMA CGM in Europe and to other customers in the same region, it
said.
The wider use of LNG as a fuel is an important component of
Total's strategy, Chief Executive Patrick Pouyanne said. "This
agreement highlights our involvement in developing dedicated supply
chains for this new fuel," he added.
Chief Executive of CMA CGM Rodolphe Saade said that "the entire
maritime industry will benefit from the new supply chains that will
be created," adding that the deal consolidates "France's prominent
role for a more sustainable transportation and in favor of the
energy transition."
Total and CMA CGM also reached an agreement in principle on the
supply of lubricants for the nine newbuilds, the company said,
giving CMA CGM access to Total Lubmarine's products,
technical-expertise and global-distribution network.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
December 04, 2017 06:13 ET (11:13 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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