Gasum And Equinor Extend Agreement

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  • Finnish company Gasum and Norwegian energy giant Equinor have renewed their long-term LNG supply contract.
  • This agreement includes additional support services and aims to contribute significantly to emission reductions in the maritime industry.
  • The partnership, which began in 2011, continues to focus on sustainability goals.

Finnish energy company Gasum and Norwegian energy giant Equinor have renewed their long-standing LNG supply agreement. Under this new long-term contract, Gasum will continue to supply liquefied natural gas (LNG) to Equinor’s dual-fuel chartered fleet.

Enhanced Services

The new agreement not only extends the previous terms but also includes additional support services. These services encompass vessel cooling down and gassing up, which have been integral to the companies’ collaboration. Gasum’s bunker vessels—Coralius, Kairos, and Coral Energy—will be used for these operations. So far this year, Gasum has conducted three LNG cool-down operations for Equinor in Skagen.

Environmental Impact and Strategic Goals

Gasum highlights the environmental benefits of using LNG and bio-LNG in the maritime sector. The company aims to introduce seven terawatt hours (7 TWh) of renewable gas to the market annually by 2027. This goal could result in a combined carbon dioxide reduction of 1.8 million tons per year for its customers.

Historical Collaboration

Gasum and Equinor’s partnership began in 2011, involving numerous LNG supply projects for Equinor’s vessels. In early 2020, Equinor contracted Gasum to supply LNG for its crude shuttle tankers, and later that year, they extended the LNG bunkering contract to the Amsterdam-Rotterdam-Antwerp (ARA) region. In 2022, Equinor opted to extend the contract further, demonstrating the strength of their collaboration.

Commitment to Sustainability

Both Gasum and Equinor are committed to advancing sustainability and supporting the transition to cleaner energy. Equinor has set a target to become a net-zero emissions energy company by 2050, aligning with global efforts to combat climate change.

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Source: Offshore Energy