The Nationalist Party today announced plans for a new offshore "Mediterranean maritime fuel hub" at Hurd's Bank, saying the project could generate up to €450 million within its first three years while shifting key energy infrastructure away from Malta's coast.

Hurd's Bank is an offshore region to the east of Malta, known to be a bunkering area where cargo shops drop anchor and transfer supplies.

PN leader Alex Borg said that the proposal forms part of the party's broader economic vision. He said the PN would not "throw proposals left, right and centre", but instead focus on building on existing sectors such as gaming, pharmaceuticals and aviation. Borg said the new niche would be family-focused and aimed at strengthening Malta's economy through higher value-added activity, alongside a more modern tax system designed to leave more money in people's pockets.

He said the Mediterranean maritime hub would ease pressure on land-based infrastructure by shifting activity offshore, while improving efficiency in bunkering and reducing environmental impact on Malta's coastal waters. Borg also stressed that the project reflects a wider restructuring of how transport governance, with the PN proposing clearer separation between land, maritime and aviation sectors within Transport Malta, in order to assure better focus and dedication to these separate sectors.

A central part of the proposal, Borg said, is the complete removal of the gas tanker currently stationed in Marsaxlokk Bay, which he described as a temporary solution that has remained in place for the past 13 years. He insisted that if PN were to be elected in government, they would relocate the facility offshore as part of the Hurd's Bank project, arguing that this would address the long standing environmental and safety concerns affecting residents in the South of Malta.

Borg added that this project would begin operating within the first legislature if the PN is elected to the government, with preparatory work starting immediately after the change in administration. He said the proposal followed extensive consultation with maritime professionals and industry stakeholders to assure accuracy in this project.

Ivan Castillo, an election candidate who served as the party's maritime spokesperson, described the project as realistic and strategically placed, noting Malta's position at the crossroads of major shipping routes. He said global maritime trends are moving towards decarbonisation, warning that Malta risks losing opportunities if it fails to adapt.

Castillo explained that the proposed system would include a single point mooring (SPM) buoy and a floating storage regasification unit (FSRU), allowing fuels to be stored and transferred offshore. He said the infrastructure would initially support LNG but would be adaptable for hydrogen and ammonia in the future.

He added that ship-to-ship transfers and subsea pipeline connections would significantly reduce vessel traffic in Marsaxlokk Bay easing congestion and improving operational efficiency while strengthening Malta's position as a regional bunkering hub.

He estimated the project could generate around €100 million in its early phase, rising significantly over time for a total of €450 million in three years. He also stated it would create hundreds of direct and indirect jobs, alongside training opportunities including maritime courses focused on offshore energy systems.

Oliver Cini, a maritime professional, said the project is based on three main pillars: floating storage units, a single point mooring system, and offshore integration with existing infrastructure. He said that this design would allow Malta to handle a diversified range of fuels as global shipping transitions away from conventional energy sources.

Cini said that this offshore model would remove supply risks currently concentrated in Marsaxlokk Bay and position Malta as a long-term Mediterranean fuel hub. He added that environmental impact would be lower than existing arrangements, noting that  no residential areas would be directly affected.

He also emphasised on how offshore operations will be easier to monitor and regulate , with potential spill risks dispersing more safely in open sea conditions compared to enclosed harbour spaces.

Responding to questions by The Malta Independent, Alex Borg  was asked what a PN government would do concretely to help families and workers facing financial difficulties, and how it would differ from Labour's approach of direct  financial support. He said that the PN's strategy would focus on long term structural change rather than short- term intervention, arguing that Malta needs "investment led growth rather than recurring cash- based measures".

Rather than what he described as "short term fixes", Borg said the aim is to generate sustainable employment and higher-value economic activity. He argued that Malta is currently failing to capitalise on certain economic sectors specifically in maritime opportunities, and in this case on offshore bunkering, where significant revenue is being left untapped and emphasised how we are missing out on "potential on making millions of euros from this sector alone."

When pressed on Labour's criticism that PN energy figures do not add up, Borg said that his focus will remain on the substance of his proposals. He said he is "happy to see that the government has been more reactive than strategic", adding that the PN is presenting a "structured plan rather than a political reaction."

On employment Ivan Castillo confirmed that around 150 direct jobs would be created in the initial phase, with wider economic spillover expected across logistics, transport and training sectors.

Regarding funding, Castillo reiterated that the project would cost approximately €500 million and would be financed through a combination of public-private partnerships and EU funding mechanisms, avoiding reliance on a single source of public expenditure.

Borg concluded that the proposal is intended to reposition Malta within the evolving maritime economy, within the evolving global maritime economy, while delivering cleaner infrastructure, reduced coastal pressure, and a stronger  long-term economic base