Global Energy Storage (GES), which focusses on storage and products for the energy transition, and Stena Power and LNG Solutions, part of shipping conglomerate Stena, have formed a strategic partnership to develop LNG solutions.
GES sees LNG as an important tool to enable developing economies with high power demands, such as those in Southeast Asia and Latin America, to switch to lower carbon sources of power. The partnership between the two companies brings together the full range of LNG terminal and logistics expertise, including floating storage and regasification units (FSRUs), onshore terminals and fixed jetty solutions.
Stena owns three LNG carriers which can be used as FSRUs or as floating storage, potentially together with innovative jetty-less and offshore power solutions that do not require onshore facilities.
“This is an exciting and important partnership for GES. 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,” said Peter Vucins, CEO of GES.
“We are also interested in exploring opportunities regarding blue hydrogen production where LNG is combined with carbon capture to make low carbon hydrogen. The possibility to deploy existing LNG carriers with onshore terminal solutions means that we can move quickly to provide our customers with a full range of solutions,” added Vucins.
Göran Hermansson, chairman of Stena Power and LNG Solutions adds that by sharing its industry-specific knowledge with GES, the two companies will be better placed to achieve their mutual objective to deliver more sustainable energy infrastructure across the world.
GES was set up earlier in 2021 and recently appointed Graham Sharp, one of the co-founders of Trafigura, as a non-executive director.
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