NASSAU, BAHAMAS- The Bahamas could become a ‘front runner’ in liquified natural gas (LNG) bunkering by leveraging the infrastructure to be developed via its agreement with Shell North America.
Shell executives who were present at the Bahamas Business Outlook conference yesterday noted that this could provide tremendous economic benefits for The Bahamas.
LNG bunkering is the process of transferring liquefied natural gas to a ship for use as fuel, with Shell having been recognized as an LNG pioneer.
Back in 2017 Carnival Cruise Lines announced it had signed an agreement with Shell NA to be its supplier of marine liquefied natural gas (LNG) to power its two new LNG-powered ships expected to launch this year and 2022.
Markus Hector, General Manager of Market Development Shell LNG Marketing and Trading, said: “The deal we are trying to bring to fruition, to bring LNG here in The Bahamas gives great opportunity for the future. LNG is developing in a transformational way in the world.
“We think that based on having the infrastructure here and having the fuel in the Bahamas there is opportunity in terms of investor use, there is opportunity in terms of family islands, there is opportunity to use it as a fuel for cruise lines in particular and other vessels which are switching to LNG.”
Hector said: “That could create an opportunity for The Bahamas to be a real front runner in this new business and create a lot of economic benefit for The Bahamas.”
Commenting on negotiations between Shell and BPL, Hector said: “We are progressing extremely well. I have been here the entire week and we have had very good meetings with BPL as well as with other agencies on the project.”
Hector noted that Shell has made significant progress in getting the necessary licenses, Bahamas Investment Authority approvals, the environmental impact assessment and acquiring the land necessary.
He underscored Shell has already spent millions of dollars.
