Société Générale is the first financing institution to join SEA/LNG
Société Générale, the French banking and financing service, has announced that it has joined SEA/LNG.
SEA/LNG is a multi-sector coalition with the objective of increasing the global adoption of liquefied natural gas (LNG) as a marine fuel, aiming for cleaner maritime shipping by 2020.
The coalition includes Shell LNG, Total, Mitsubishi, Carnival, and Clean Marine Energy.
“As the 0.5% global sulphur cap from January 2020 edges ever closer, the case for LNG as a marine fuel continues to gather momentum,” stated SEA/LNG Chairman and Executive Vice President, Peter Keller.
“Innovative financing is a core component to breaking down barriers to adoption and Société Générale is at the forefront of developing frameworks to support this evolution.”
“We are therefore delighted to welcome them to our growing coalition and look forward to benefiting from their extensive knowledge and experience.”
The French firm has been involved in the Green Shipping Guarantee programme, demonstrating it’s commitment to alternative maritime solutions.
“The use of LNG as a marine fuel is gradually becoming a global reality,” commented Paul Taylor, Global Head of Shipping Finance at Société Générale Corporate & Investment Banking.
“In line with our wider environmental commitment to promoting greener solutions, Société Générale recognises the benefits of LNG in lowering local pollution and greenhouse gas emissions, when compared with traditional marine fuels.”
“Société Générale wants to play a key role in supporting the SEA\LNG coalition to realise its goal of making LNG a viable maritime fuel for 2020 and beyond.”
“This strategic membership will help develop a long-term financial framework which we hope will contribute to, and supplement, the work of other industry leaders in the LNG shipping value chain.”
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."