The European Commission selected the CORE LNGas hive initiative among the projects submitted for the 2014 Connect Europe Facility (CEF) Transport Calls for the development of the Trans-European Transport Networks, and will receive financial support of €16.5Mn from the European Commission. The total investment in the project will amount to €33Mn.
The project led by Puertos del Estado and coordinated by Enagás involves 42 partner entities in Spain and Portugal: 8 state-owned institutions, among which is DG Marina Mercante; 13 port authorities; 21 industrial companies such as LNG operators, shipbuilders, regasification companies and other companies. Its execution is planned to last until 2020 and the institutional presence in the project aims to build on its developments to put forward a National Policy Framework for LNG use as maritime fuel in Spain. A total of 681 projects were submitted to this European tender, of which 263 were selected, among them CORE LNGas hive.
The aim of the project is to develop a safe and efficient, integrated logistics and supply chain for LNG in the transport industry, particularly for maritime transport of the Iberian Peninsula. It involves 20 studies, to be conducted by the partner companies for adaptation of infrastructure and logistical - commercial development in order to offer small-scale supply services and bunkering.
In accordance with EU Directive 2014/94 on the deployment of alternative fuels infrastructure (Clean Power for Transport), this project will contribute to the decarbonisation of the Mediterranean and Atlantic corridors. LNG is one of the most environmentally friendly fuels, given that it generates about 30% fewer emissions of CO2 than oil. Moreover, it reduces emissions of sulphur oxides (SOx), particulate matter (PM) and nitrogen oxides (NOx), which will allow complying with increasingly tight environmental regulation, particularly improving the air quality of port environments.
With 8 regasification plants, the Iberian Peninsula is geostrategically positioned and possesses LNG logistics know-how key to the development of the project and the consolidation of the region's leadership in this field.