On the November 25, 2016 Europe Technologies Group signed a Memorandum of Agreement with the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited in Nantes, France.
This Trinidad-based ship repair arrangement with the expert guidance of the Europe Technologies Group will provide both project management and skilled personnel in organizing the working party with the ship-owner, the shipyard, the technology owner (which has around 310 LNG carriers equipped with its technologies), the classification company and other service providers, to achieve the best on-time quality cargo containment system solutions required by LNG carrier owners.
Dr. Patrick Cheppe, CEO of Europe Technologies Group, and Wilfred de Gannes, Chairman & CEO of the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited, signe the MOU in Nantes, France on November 25, 2016. (Photo: SRDC)LNG carrier British Merchant, operated by BP Shipping departed Atlantic LNG, at Point Fortin with its cargo destined for Mexico. It was the first LNG carrier on July 26, 2016 from Trinidad and Tobago to make its way through the expanded Panama Canal. (Photo: SRDC)Dr. Patrick Cheppe, CEO of Europe Technologies Group and Wilfred de Gannes, Chairman & CEO of the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited in Nantes, France on November 25, 2016. (Photo: SRDC)Dr. Patrick Cheppe, CEO of Europe Technologies Group, and Wilfred de Gannes, Chairman & CEO of the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited, signe the MOU in Nantes, France on November 25, 2016. (Photo: SRDC)LNG carrier British Merchant, operated by BP Shipping departed Atlantic LNG, at Point Fortin with its cargo destined for Mexico. It was the first LNG carrier on July 26, 2016 from Trinidad and Tobago to make its way through the expanded Panama Canal. (Photo: SRDC)Dr. Patrick Cheppe, CEO of Europe Technologies Group and Wilfred de Gannes, Chairman & CEO of the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited in Nantes, France on November 25, 2016. (Photo: SRDC)
Trinidad and Tobago is also the sixth largest exporter of liquefied natural gas in the world having recently crossed its 3,000th LNG shipment safety milestone, since LNG exports commenced in 1999 from the twin-island State located in the southern Caribbean.
Two events have resulted in an exponential growth requirement for LNG carrier repairs in the Atlantic Basin. These are: (1) newly expanded Panama Canal inaugurated on June 26, 2016 now being able to physically accommodate 92 percent of the world LNG shipping fleet, and (2) the U.S. becoming a net exporter of LNG with the commencement of exports in February 2016 from the Cheniere Energy Inc. Sabine Pass LNG Terminal. This terminal has a platform capacity in aggregate of around 9 percent of the expected global LNG market by 2020.