Kogas has partnered with five other South Korean companies to create a joint venture to develop liquefied natural gas (LNG) bunkering in the country, Kallanish Energy reports.
The plan is to establish the JV by October, aiming to secure two bunkering ships in the East Sea and South Sea; one in the West Sea; and one bunkering facility in Dangjin.
Kogas estimates it will sell 1.36 million tonnes per annum of LNG under the shipping-bunkering alliance. The project would cut sulfur oxides emissions by 8,315 tonnes, it said.
CEO Hee-Bong Chae highlighted the JV will be “a good opportunity not only to pre-emptively respond to the recent global strengthening of marine environmental regulations but also to provide LNG as a fuel for ship transportation in Korea, a traditional shipbuilding and shipping powerhouse.”
This post appeared first on Kallanish Energy News.