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Shell and Qatar Petroleum establish LNG marine fuelling venture

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LNG Industry,


Qatar Petroleum has announced that its Wave LNG Solutions business has signed a framework agreement with Shell Gas & Power Developments B.V. to develop LNG marine fuelling – or bunkering – infrastructure at strategic shipping locations located across the globe.

The President and CEO of Qatar Petroleum, Saad Sherida Al-Kaabi, said: “We are pleased to team up with our long-term partner and industry pioneer, Shell, on this important initiative. We view LNG bunkering as a promising opportunity for LNG to further grow as a clean energy source.

“LNG demand for bunkering is expected to increase significantly over the coming years and we believe there is real potential for such demand to reach up to 50 million tpy by 2030. Obviously, achieving this figure requires focused investments and the right partnership model, similar to the one we are establishing today.”

The CEO of Shell, Ben van Beurden, added: “As two of the world’s leading LNG suppliers, Shell and Qatar Petroleum have the capability and experience to deliver LNG as a marine fuel to shipowners and operators who must meet tougher emissions regulations from 2020. We look forward to working with Qatar Petroleum to increase the availability of LNG as a fuel for transport.”

This agreement follows two memoranda of understanding (MoUs) that Qatargas and Shell signed with industry partners in 2016 to explore LNG bunkering opportunities in the Middle East. Pursuant to the agreement, Qatar Petroleum and Shell will evaluate and progress the development of LNG bunkering facilities at a number of locations across Europe, the Middle East and East Asia.

Read the article online at: https://www.lngindustry.com/lng-shipping/14062017/shell-and-qatar-petroleum-establish-lng-marine-fuelling-venture/


 

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