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EU To Provide €6 Million For Santander Port LNG Facility

EU to provide €6 million for Santander port LNG facility

EU To Provide €6 Million For Santander Port LNG FacilitySource: PortSEurope

Santander, Spain (PortSEurope) October 8, 2019 – The Minister of Innovation, Industry, Transportation and Commerce, Francisco Martín, and the president of Autoridad Portuaria de Santander (APS – Port Authority of Santander), Jaime González, have announced that the European Union will provide €6 million ($6.59 million) in co-financing for a liquified natural gas (LNG) facility in Santander port which has a total investment cost of €32.8 million ($36 million).

A consortium of Repsol LNG Holding, APS and ESK will construct a 1,000 m³ LNG tank, which will improve Spain’s LNG bunker supply from northern Spanish ports.

Brittany Ferries is a likely beneficiary of the development, as the company uses Santander and Bilbao ports in connections with France and the UK. In August this year, Repsol signed an agreement with Brittany Ferries to supply its vessels in Spain with LNG fuel. Part of its fleet will cover, starting in 2022, the route between the United Kingdom and Northern Spain with LNG-fuelled ferries.

Repsol, the Spanish energy company, will also build two LNG bunker terminals in Bilbao and Santander ports.

LNG is an alternative increasingly valued by shipowners for use in maritime transport, as it reduces emissions and complies with IMO 2020, the International Maritime Organization regulations, which will enter into force on January 1, 2020.

Santander port will also benefit with the use of LNG reducing pollution at the port.

The facility will take about 3.5 years to complete and include the required port infrastructure for ships to take LNG onboard.

ESK SA is a transport company that will supply the port with LNG via trucks from the nearest regasification terminal.

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