Our client ran a mature and highly efficient domestic gas operation, but lacked the expertise to join the dots between products, services and customers that would unlock value from the global market. We translated our decades as LNG practitioners into an injection of high-end experience and insight into shifting dynamics of the global market to rethink the role and potential of their asset.
New opportunity, new value
We gave our client a clear-eyed view of the commercial opportunities across LNG value chains, assessing their technical feasibility, regulatory acceptance and market competitiveness. Our scenarios explored options from merchant-terminal concepts to small-scale LNG, LNG trucking, hydrogen services and storage for traders. By mapping the customer groups for each option, we unlocked an opportunity that would never have naturally presented itself.
Utility business prize efficiency, not innovation. We brought that fresh-thinking edge to their culture to unlock the highest value opportunity: to be the world’s first fully green LNG terminal. With major industrial users nearby, this would give foundry customers access to the premium of a ‘green steel’ product, as well as maximising the premium our client could charge.
Aligning audiences
Our green option was not only valuable to our client and their customers. It also aligned closely with the decarbonising agenda of Spain’s Energy Ministry and regulator, strengthening the commercial case we put forward to them. From initial recommissioning in 2023 as an off-grid LNG storage facility, the terminal is now transitioning to bio-LNG bunkering and becoming that world first fully green LNG terminal.