The Minister of Economy and Industry of the Xunta de Galicia, Francisco Conde stated that Reganosa’s LNG “hub” will turn Ferrol into an energy distribution center in the Northwest region and will supply LNG as marine fuel for gas-powered vessels. The project is part of the European initiative TEN-T and the result of a partnership between Reganosa, the Xunta through the Galicia Energy Institute (Inega), Navantia, the University of Santiago (USC) and the Port Authority of Ferrol.
“The potential of this project is especially huge for the port of Ferrol,” said Conde, who also stressed that the terminal will see traffic multiply as it is located in a geographically strategic point (Finisterre corridor) where nearly 55,000 ships dock per year, and will be one of the few LNG refueling sites towards Northern Europe.
The official also said it will mean a great opportunity for local shipyards, in areas such as construction of new vessels using this fuel, conversion and repair of vessels already built. These are three areas where demand is increasing, due to the European directive that considerably restricts sulfur in marine fuels, opening the market for cleaner energies such as LNG.
“The investment will focus on funding innovative projects of LNG fuel systems for vessels, providing competitive advantages for our shipyards so that they can get contracts to build these ships,” noted Conde. These advantages, he added, will increase the competitiveness of Galicia.
Source: Xunta de Galicia
