Athens-based alternative fuels specialist Blue Grid has informed Bunkerspot that it has joined the Molgas group of companies and received ‘significant investment’ that will support its plans to launch an LNG bunkering operation in Piraeus.
Incorporated in 2017, Blue Grid’s current activity mainly focuses on supplying LNG as a fuel to industrial users as well as the road and marine transport sectors. The company’s broader scope also includes renewable methane and bioLNG as well as hydrogen-enabled e-fuels.
Molgas is the leading downstream supplier of LNG in Europe, active in eight countries and supplying volumes in excess of 6TWh of LNG a year. In the marine sector, said Blue Grid, Molgas is working with ‘a growing number of customers, by utilising two LNG bunkering vessels and nine satellite LNG terminals across the Norwegian coastline’.
Now that it has the backing of Molgas, Blue Grid said it is looking to ‘accelerate growth in LNG and bioLNG supply’ across South East Europe and the Eastern Mediterranean. As part of this drive, Blue Grid told Bunkerspot it aims to be ‘one of the first physical suppliers of LNG to marine customers in the port of Piraeus, and to this end, is planning to have an LNG bunkering vessel available in alignment with the commissioning of the jetty’.
Sofoklis Papanikolaou, the founder and CEO of Blue Grid, said: ‘We are proud to have Molgas on-board, and view this investment as a vote of confidence in the work that we have been doing in the region over the past years.’
Fernando Sarasola, the CEO of Molgas, added: ‘The Southeastern European region is the next frontier for small-scale LNG and alternative fuels, and Blue Grid is perfectly positioned to capture this market. We are very excited to be joining our forces and I am confident that together we will be bringing a lot of value to a wide range of customers.’
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