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Total Launches First LNG Bunker Vessel; To Open Digital Factory In Paris

French energy giant Total SA (TTA.L,TTFNF.PK,TOT) announced Friday the launch of its first large liquefied natural gas or LNG bunker vessel, following its long-term charter contract with Mitsui O.S.K Lines signed in February 2018.

The vessel is being built by Hudong-Zhonghua Shipbuilding at their shipyard near Shanghai. After delivery in 2020, the bunker vessel will operate in Northern Europe and will supply LNG to commercial vessels. This includes 300,000 tons per year for CMA CGM's nine ultra-large newbuild containerships in Europe-Asia trade, for a period of at least 10 years.

Total said the LNG bunker vessel's construction is in line with the International Maritime Organization decision to drastically limit the sulfur content of marine fuels as of 2020.

Separately, Total said it will open a Digital Factory in Paris in early 2020. The factory will bring together up to 300 developers, data scientists and other experts to accelerate the company's digital transformation.

Total said its goal is to leverage the capabilities of digital tools to create value in all of its businesses. The company's ambition is to generate as much as $1.5 billion in value per year for the company by 2025 through additional revenue and reductions in operating or investment expenses.

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