LNG shipowner GasLog has released its first environmental, social and corporate governance (ESG) reports which show its 14 and 15-year-old steam turbine LNG carriers emit significantly more carbon dioxide than its modern gas-injection newbuildings.
The 24-page sustainability reports for both New York-listed GasLog and spin-off GasLog Partners, entitled “Sustainable Performance” include a breakdown of the grams of CO2 per ton-nautical mile emitted by each ship during 2019.
In GasLog’s fleet, the 145,000-cbm Methane Lydon Volney (built 2006) emitted 36.34 grams of CO2 per tonne mile. That is more than three times the 11.12 grams of CO2 per tonne mile for one of the company's recent newbuildings, the 180,000-cbm GasLog Warsaw (built 2019).
The IMO’s 2030 target is 13.2 grams of CO2 per tonne mile, falling to 6.6 grams of CO2 per tonne mile in 2050.
Similarly for GasLog Partners' fleet the five steam turbine vessels record higher levels than their tri-fuel diesel-electric cousins.
GasLog Partners chairman Curt Anastasio, however, said the fleet’s steam turbine ships are more efficient than 50% of the existing global steam turbine fleet, based on their age and cargo capacity.
Both companies are now reporting their emissions to both the IMO and European Union.
Complex world
In an introduction GasLog chairman Peter Livanos said the company will “not only meet, but exceed” the current LNG ship energy targets set by the IMO when it orders new ships.
Fleet: 21 vessels, 16 existing ships and 5 newbuildings
Under management for GasLog Partners: 14 vessels
Global employees: 1700 seafarers and 160 onshore staff
Number of voyages: 520
Global port calls: 97 in 41 countries
Distance travelled by ships: 1.24m nautical miles
CO2 emissions: 944,682 tonnes
LNG carried: 33.3m cbm*
*includes GasLog Partners fleet
Livanos said GasLog’s latest vessels perform “42% better than the current requirement”.
The chairman said GasLog is aligning its business plan with the IMO targets and working to find ways both reduce and finally eliminate CO2 and methane slip.
“We are facing an increasingly complex world and we will continue to have difficult strategic decisions to make,” he said.
Both reports outline the companies' sustainability strategy and give a detailed roadmap for achieving this.
Key KPIs
They also list key performance indicators (KPIs) for a wide range of factors including greenhouse gas emissions, data security and employee engagement and diversity and inclusion.
Among other things these figures show that GasLog's fleet emitted 780,532 tonnes of CO2 from LNG and a further 164,150 tonnes from fuel oil, slightly higher than the totals shown for 2018.
GasLog also records that a reduction in the volume of plastic sent ashore by each vessel, a 98% seafarer retention rate and that 6% of its female staff are in management or leadership positions.
The chief executives of both companies GasLog's Paul Wogan and Andy Orekar for GasLog Partners listed the ambitions as the two outfits pursue their commitment to sustainability.
These include establishing processes and targets to improve the diversity of the company’s seafarers while enhancing the mental health and welfare support for all its staff.
The companies also wants to increase diversity at board and management level, involvement in partnerships to support the IMO and add sustainability criteria to the key KPIs for senior management.
Both pledged to "ensure our management team consider environmental, social and governance factors in their strategic decisions for the company in the same way that we include safety as a primary requirement".
