Peninsula Petroleum announces LNG bunkering business

Having been one of the first suppliers to provide very low sulphur fuel oil in 2019, the company’s focus is now on transitional and renewable marine energy.

The company’s energy transition strategy is the culmination of an 18-month consultation process. In addition to its global supply network, the company added LNG bunkering to its offerings in the initial stage of the sustainability initiative as it seeks to evolve to the changing market.

The company will work with its existing customer base to obtain a clear picture of trends in current and future bunkering demand. Multiple Peninsula customers have existing LNG strategies with some already operating LNG-powered vessels, or in the final stages of delivering new ships for service.

“Building our LNG proposition around customer needs is a natural progression for us, as it is a methodology we have followed in conventional bunkering for 25 years. In many cases, customers are opting for dual-fuelled ships and we will be uniquely placed to assist them with all their bunkering needs” said Peninsula global head of sales & marketing, Victor Morales.

The new LNG business will be headed by Nacho de Miguel who has previously worked for Cepsa’s bunkering business and later in the LNG segment at Union Fenosa. Peninsula added that Mr de Miguel has already built a team covering the key elements of LNG bunker supply such as technical, regulatory and governance as well as the commercial agenda for the group.

Mr de Miguel said “I am fortunate to have worked extensively in both bunkers and LNG, therefore I welcomed the opportunity to bring this experience and knowledge to Peninsula as it develops its worldwide LNG supply business. The company has a long history of investing for the future and is committed to delivering a sustainable marine energy proposition for its global customers.”

Commenting on the new initiative, Peninsula chief executive John A Bassadone said “We have built a team of very experienced individuals in the sustainability and LNG space who will drive Peninsula’s transition to a cleaner future.”

“Initially we are using this expertise to progressively build an LNG bunkering proposition, which will benefit our customers globally. We are already in advanced discussions with shipyards, governments, maritime authorities, suppliers and customers, to name but a few, and the response so far has been extremely positive given Peninsula’s excellent reputation in conventional bunkering. As technology continues to improve, we will invest in further viable green energy solutions. Ultimately we are committed to a zero-carbon future and I strongly believe that Peninsula will play a key role in marine energy reaching this destination.”