[Infostock Daily = Reporter Kim Jong Hyo]
Korea Gas Corporation will work with private companies such as POSCO International and S-OIL to establish a joint venture for LNG bunkering.
Korea Gas Corporation announced on the 14th that it had signed a 'signing ceremony for the committee to establish a joint venture of LNG bunkering' with five companies including S-Oil, POSCO International, Hyundai Glovis, Busan Port Authority and Daewoo Logistics at the Hilton Hotel in Seoul.
The LNG bunkering company is mainly engaged in supplying LNG to the ever-increasing LNG fuel vessels from ships or terminals. Recently, the newly built vessels are using LNG, a clean fuel, in bunker C oil, which has a high sulfur content due to the strengthening of international marine environmental regulations.
Korea Gas Corporation expects that domestic natural gas, shippers, refineries, ports and logistics companies will secure stable LNG bunkering demand through the establishment of LNG bunkering joint venture. Korea Gas Corporation plans to establish a joint venture by the end of October after confirming its business plan.
The LNG bunkering joint venture plans to secure two Donghae and Namhae bunkering ships and one West Sea bunkering ship, and to secure one shipment facility at Dangjin LNG acquisition base to be completed in 2023. The LNG bunkering ship is a dedicated ship that supplies LNG at sea.
Reporter Kim Jong Hyo email@example.com