TotalEnergies to offer biofuel for ships in Singapore from 2023

TotalEnergies will start offering biofuels as a bunkering fuel to its customers in Singapore from next year.
A senior executive at the French energy giant told Reuters the company was determined to reduce its emissions in shipping swiftly.
The move would reduce greenhouse gas emissions from shipping by 20-25%, said Vice President Marine Fuels Louise Tricoire.
"We will be able to deliver biofuels with new UCOME (used cooking oil methyl ester) based supply chain in Singapore by 1 January for customers," said Tricoire at the Singapore International Bunkering Conference and Exhibition (SIBCON) 2022.
The shipping industry accounts for nearly 3% of the world's CO2 emissions and the International Maritime Organisation (IMO) is seeking to halve the industry's greenhouse gas emissions by 2050 from 2008 levels.
This target will require rapid development of zero- or low-emission fuels and new designs for ships.
At the same conference on Tuesday, Cargill Inc said it was trying to boost its vessels' use of biofuels to 50,000 tonnes by mid- or end-2023, up from 12,000 tonnes since January.
TotalEnergy is also investing more than $4 billion (€4 billion) this year "for renewable energies and new, low-carbon molecules," added Tricoire.
TotalEnergies said it would increase its capital expenditure to $14-18 billion (€4 billion) a year through 2025 from $13-16 billion previously, with investments targeting wind and solar energy and energy savings as well as liquefied natural gas (LNG) capacity.