Methane abatement initiative gains momentum with major new members
16/03/2023Seven companies join the Methane Abatement in Maritime Innovation Initiative
16th March 2023, Doha
A major cross sectoral initiative tasked with reducing methane emissions across the maritime industry has announced seven new members at a Lloyd’s Register LNG Forum event in Doha, Qatar.
New members of the Methane Abatement in Maritime Innovation Initiative (MAMII) include CoolCo, United Overseas Management, Capital Gas, Celsius Tankers, Global Meridian Holdings, Mitsui O.S.K. Lines, and TMS Cardiff Gas.
Led by Safetytech Accelerator, MAMII’s current members include Maran Gas Maritime, Mediterranean Shipping Company, Carnival Corporation & Plc, Seaspan Corporation, Shell, Lloyd’s Register and Knutsen Group.
MAMII was formed in September 2022 to identify, accelerate and advocate technology solutions for the maritime industry to measure and manage methane emissions activity. In doing so, it aims to minimise the environmental impact of liquefied natural gas (LNG) in shipping, whilst aiding the transition to future fuel solutions.
The new members bring a wealth of expertise from across the LNG value chain to the initiative, in a signal that they hope shows the industry’s action to tackle methane emissions in maritime is strengthening.
Compared with traditional marine fuels, LNG is widely understood to generate less carbon dioxide (CO2), and emit less nitrogen oxides, sulphur dioxide, and particulate matter, for the same propulsion power. This makes it a popular and widely used transition fuel.
However, analysis has indicated that the environmental benefits of using LNG could be partially negated due to any unburned methane passing through the combustion process.
Methane is a potent greenhouse gas, estimated to have a Global Warming Potential of 27-30 over 100 years, while CO2 has a GWP of 1 regardless of time period used.
In its first six months, MAMII has already mapped the LNG fuel landscape from the well to the ship, identified key measurements required, and has identified a range of potential new technology for measurement onboard ships.
The progress of MAMII comes at a time when methane abatement initiatives are gaining traction globally, such as the Green Ray project which recently won funding from the European Union.
The initiative is chaired by Panos Mitrou, Lloyd’s Register’s Global Gas Director, and directed by Safetytech Accelerator’s Head of Partnerships, Steve Price.
Steve Price, Head of Partnerships at Safetytech Accelerator, said:
“We are looking forward to the next few months when we move from analysis and research into piloting new methane measurement technology on ships. Measuring actual emissions is a critical step in the decarbonisation of the shipping journey”.
Panos Mitrou, Global Gas Director at Lloyd’s Register, said:
“The doubling of MAMII’s membership in the six months since its launch is a sign of the maritime industry’s commitment to addressing methane emissions. It also indicates the important role of technology in measuring and managing methane emissions activity. As the chairman of the MAMII initiative, I am delighted that so many significant shipping leaders have joined the ranks.”
Miltos Zisis, Managing Director at Capital Gas Ship Management, said:
“We are excited to pioneer together with Lloyd’s Register and our peers in the MAMII project. Our group has invested heavily in reducing the environmental footprint of our fleet with specific focus in the reduction of methane emissions. Our participation in this project underlines our commitment to supporting important industry initiatives. We firmly believe that LNG will continue to be a major part of the energy mix and reducing the environmental impact of the value chain is one of the key challenges that we are facing.”
George Kourelis, General Manager at TMS Cardiff Gas, said:
“TMS Cardiff Gas has been a consistent investor in the LNG shipping space through the years, and has in this way clearly demonstrated its commitment to LNG as a clean alternative fuel in the path of the shipping industry towards achieving the 2050 decarbonisation targets. We are convinced that MAMII will play a critical role in enhancing the information flow and adding to the tools needed to measure methane releases by LNG-fuelled ships, and taking actions in order to mitigate these and cement the position of LNG, as well as synthetic LNG in the future as an alternative green fuel for the next decades.”
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Issued by Woodrow Communications on behalf of the Methane Abatement in Maritime Innovation Initiative
Contact:
Edward Clark: e.clark@woodrowcommunications.com // (+44) 07983507659
Notes to editors
About the Methane Abatement in Maritime Innovation Initiative
For more information on MAMII, please head to https://mamii.org/
About Safetytech Accelerator
Safetytech Accelerator is a non-profit established by Lloyd’s Register. It is the first fully dedicated technology accelerator focused on safety and risk in industrial sectors, with a mission to make the world safer and more sustainable through wider adoption of technology.
Read more about Safetytech Accelerator at https://safetytechaccelerator.org/
About Capital Gas Ship Management Corp.
Capital Gas Ship Management Corp. (“Capital Gas”) is a ship management service provider, currently managing a fleet of 16 modern LNG Carriers – 9 under construction and 7 trading – with a total carrying capacity of approximately 2.78 million cubic meters.
About CoolCo
The company has been in operation since 1970 and under a new ownership since 2022. It is one of the world’s most innovative and experienced independent owners and managers of LNG carriers and FSRUs.
CoolCo was born out of the separation of Golar’s LNG carriers from its FLNG assets in early 2022. This was accompanied by an investment by an affiliate of Eastern Pacific Shipping (“EPS”), one of the largest privately owned shipping companies in the world. The transactions created a pure-play LNG shipping company that counts EPS and Golar as industrial backers and benefits from their respective heritages.
CoolCo manages 27 LNG carriers and FSRUs, whereof it owns 12 of the carriers. It employs approximately 1,550 people at sea and on land.
About TMS Cardiff Gas
TMS Cardiff Gas is a member of the TMS Group of companies with headquarters in Athens, Greece. The company is one of the leading LNG shipping companies and currently manages in-house a fleet of 16 modern LNG Carriers plus another 7 under construction at the 3 major Korean shipbuilders.