Pavilion Energy – one of the three companies which has been granted an LNG bunker licence in Singapore – has imported a ‘carbon neutral’ LNG cargo into the Asian superhub.
In a statement sent to Bunkerspot today (15 April), the company said this was a ‘first for Singapore and Pavilion Energy’.
Pavilion Energy said that the ‘well-to-tank’ carbon emissions associated with the LNG cargo (which will include its extraction, production, transportation, and regasification) will be offset by ‘retiring a corresponding amount of high-quality carbon credits sourced from its portfolio of carbon offset projects’.
The company said the carbon credits used for the offset are from Natural Climate Solutions projects certified under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity Standard (CCB) - Evio Kuinaji Ese’Eja Cuana in Peru and Liangdu Afforestation in China.
Frédéric H. Barnaud, Group CEO of Pavilion Energy, commented: ‘This carbon neutral cargo is another important milestone for Pavilion Energy in our ambition to provide cleaner energy and develop our carbon trading activities. Our aim is to support our customers in their transition towards a lower carbon future with solutions to meet their climate targets and potential regulatory requirements.’
As previously reported, Pavilion Energy and FueLNG were the first companies to be awarded an LNG bunker supply licence by the Maritime and Port Authority of Singapore (MPA) – and at the end of February the MPA announced that Total Marine Fuels will be the port’s third LNG bunker supplier licensee, for a five-year term beginning on 1 January 2022.
Pavilion Energy’s interest in sourcing of carbon neutral cargoes could be a selling-point for bunkering customers looking to reduce their ships’ carbon footprint – and it also reflects a growing trend across the industry. Yesterday, shipbroker IFCHOR and carbon market specialist ClearBlue Markets said they will help shipping companies source emissions offsets and execute carbon offset projects and transactions; and last Friday (9 April) Trafigura announced it will be setting up a carbon trading desk.
ASIA PACIFIC: Total awarded Singapore LNG bunker supplier licence
EUROPE: IFCHOR and ClearBlue Markets join forces on carbon offsetting
