GAC, Neutral Fuels ink MoU to speed up decarbonisation

Marine services provider GAC Bunker Fuels has signed a Memorandum of Understanding (MoU) with biofuel producer Neutral Fuels to market its marine gas oil (MGO) diesel blend specifically developed for shipping clients in the United Arab Emirates (UAE), Bahrain, Oman, Qatar, and India.

Under the MoU, the companies will also collaborate to expand the number of supply points throughout the Middle East and Africa.

The chief commercial officer of Neutral Fuels, Gary Hubbard, said that the partnership is a long-term joint commitment that will accelerate the decarbonisation of a sector essential to global trade.

“Deploying our net-zero biofuel in the maritime sector will play a key role in helping to achieve the new carbon emission reduction targets set by the International Maritime Organisation. Adoption of cleaner biofuels is much quicker when we work in close collaboration with leading companies such as the GAC Group. It means that the whole sector can become part of the solution to climate change, rather than remaining part of the problem”, Hubbard added.

According to GAC, MGO emits around three tonnes of CO2 and equivalents per metric tonne, which can be significantly reduced by the blending of pure net-zero biofuel in varying increments.

The company reports good progress on its drive to switch from oil-based marine fuels to fuels with a much smaller environmental impact, such as biofuels and LNG and is well on track to achieve its carbon zero target by 2030.

Furthermore, GAC Bunker Fuels is said to be the world’s only bunkering company with an integrated ISO 9001, 14001, and 45001 certification for bunker procurement.

Martyn McMahon, global commercial manager at GAC Bunker Fuels, said: “As a leader in our industry, we have a responsibility to do the right thing. We have to play our part in helping to achieve the United Nations’ sustainable development goal on climate action. Hence our commitment to adapt, reduce and mitigate our activities’ negative impact on the environment and contribution to climate change”.

In the company-related news, earlier this year, GAC signed an MoU with liquified natural gas supplier Puget LNG. The companies agreed to cooperate in the supply and sale of LNG marine fuel from Puget LNG’s terminal to GAC’s customers in the Pacific Northwest.