Marquard & Bahls' subsidiary Bomin and Linde to establish joint venture in liquefied natural gas for the marine market
(Thomson Reuters ONE) -
Linde AG /
Marquard & Bahls' subsidiary Bomin and Linde to establish joint venture in
liquefied natural gas for the marine market
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The issuer is solely responsible for the content of this announcement.
Munich, 6 August 2012 - Marquard & Bahls through its subsidiary Bomin, a leading
provider of marine fuels, and technology company The Linde Group today announced
that they will establish a joint venture company in order to build an
infrastructure for liquefied natural gas (LNG) in the maritime sector in Europe.
The transaction is subject to the approval of the relevant antitrust
authorities. The 50/50 joint venture company is due to start its operations in
the latter part of 2012 with its headquarters in Hamburg.
The new joint venture will set out to establish an LNG supply chain and to
provide reliable, safe and environmentally friendly fuel to ship owners and
operators. Bomin and Linde will bring in their respecttive know how and
experiences in the field of LNG. Linde will contribute its vast experience in
cryogenics and its best in class engineering know-how while Bomin will support
the joint venture with its excellent track record in maritime bunker fuel
trading and operations. The new company will establish operations in a number of
key ports throughout the so-called "Emission Control Areas" (ECAs) in North-West
Europe. Vessel emissions in ECAs will have to be reduced further on January
1(st) 2015, forcing ship owners to limit their sulphur emissions drastically. In
particular compared to conventional heavy fuel oil, LNG offers close to 100 per
cent reduction of emissions in sulphur and particulate matter, an 80-85 per cent
reduction of nitrogen oxides (NO(x)) and 20-25 per cent less CO(2) emissions.
The use of LNG as a solution for meeting the increasingly strict regulations
requires a network of LNG storage facilities to be set up for the bunkering of
vessels in main European harbours.
"With the new joint venture company we want to offer LNG to ship owners as an
alternative energy source with a lower environmental impact than traditional
bunker fuels. The know-how combination of Bomin and Linde will enable us to
offer attractive solutions in this emerging market", says Dr Claus-Georg Nette,
Member of the Executive Board of Marquard & Bahls AG.
"Bomin is committed to the bunker business on a global scale. Combining our
expertise in bunkering with Linde's gases and engineering know-how adds support
to the emerging LNG-fuel market. As this partnership shows, Bomin is determined
to remain innovative, offering multiple fuelling solutions wherever we can",
says Peter Schreiber, Chief Executive Officer of the Bomin Group.
"A readily available and cost-effective LNG infrastructure is key to the
development of LNG as a maritime fuel," says Professor Dr Aldo Belloni, Member
of the Executive Board of Linde AG. "This new joint venture underpins our LNG
strategy, already visible in our recent opening of the LNG terminal in Stockholm
harbour and our study for the introduction of LNG with the Hamburg Port
Authority." Earlier this year, Linde also won the LNG delivery contract for the
natural gas-powered "Viking Grace" ferry - the first of its kind - from the
Finland-based Viking Line.
Global demand for LNG is expected to increase by more than 10 per cent per year,
making it the fastest growing energy product in the world. In 2015, some 70
vessels are expected to run on LNG in the Nordic region. According to a study by
the Danish Maritime Authority the consumption potential of LNG is estimated to
reach approximately 4 million tonnes by 2020.
The Linde Group is a world-leading gases and engineering company with around
51,000 employees in more than 100 countries worldwide. In the 2011 financial
year, it achieved sales of EUR 13.787 bn. The strategy of The Linde Group is
geared towards long-term profitable growth and focuses on the expansion of its
international business with forward-looking products and services. Linde acts
responsibly towards its shareholders, business partners, employees, society and
the environment - in every one of its business areas, regions and locations
across the globe. The Group is committed to technologies and products that unite
the goals of customer value and sustainable development.
Under the "Clean Technology by Linde " label, the company offers a wide range of
products and technologies that help to render renewable energy sources
financially viable, and significantly slow down the depletion of fossil
resources or reduce the level of CO(2) emitted. This ranges from specialty gases
for solar module manufacturing, industrial-scale CO(2) separation and
application technologies to alternative fuels and energy carriers such as
liquefied natural gas (LNG) and hydrogen.
Bomin is one of the leading independent bunker traders and suppliers of the
world with more than 35 years of experience. The business portfolio covers
activities ranging from the supply of bunker fuels to lubricants and other
services to the shipping industry. The company operates around the globe with a
staff of more than 300 in 36 offices worldwide. Bomin is owned at 100 per cent
by Mabanaft, an importer, wholesaler and retailer of petroleum products, which
belongs to the Marquard & Bahls group, headquartered in Hamburg, Germany.
Marquard & Bahls is a leading independent petroleum company, privately owned.
The core activities include oil trading, tank storage, aviation fuelling and
renewable energies. Furthermore, the company is engaged in gas supply and
petroleum analysis. Through its subsidiaries, Marquard & Bahls is represented in
Europe, America, Asia and Africa. The company has around 8,300 employees
worldwide and generated a turnover of EUR 17.3 bn in 2011.
For more information on Bomin, the Linde Group and Mabanaft please visit
www.bomin.com, www.linde.com, www.mabanaft.com and www.mbholding.com.
Further information:
Michael Rebbelmund Media
Bomin Group Dr. Thomas Hagn
Phone: +49.40. 35 09 30 The Linde Group
mrebbelmund(at)bomin.com Telefon: +49.89.35757-13 23
thomas.hagn(at)linde.com
Investor Relations
Lisa Tilmann
The Linde Group
Telefon: +49.89.35757-13 28
lisa.tilmann(at)linde.com
Press Release as PDF:
http://hugin.info/125064/R/1631973/523351.pdf
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originality of the information contained therein.
Source: Linde AG via Thomson Reuters ONE
[HUG#1631973]
Unternehmensinformation / Kurzprofil:
Datum: 06.08.2012 - 09:02 Uhr
Sprache: Deutsch
News-ID 171739
Anzahl Zeichen: 7784
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Town:
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Kategorie:
Business News
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