Breaking News

KOGAS joint venture appoints Hyundai Heavy Industries to build LNG bunker vessel

Repost: Korea LNG Bunkering Co, a Korean LNG bunkering joint venture led by KOGAS, has reportedly ordered a 7,500 cubic meter (cbm) liquified natural gas (LNG) bunker tanker from Hyundai Heavy Industries.

The project is partly funded by a KRW 15 billion won (USD 13.4 million) subsidy under the Korean Ministry of Trade, Industry and Energy’s ‘LNG Bunkering Ship Construction Support Project’. The vessel is expected to enter into service by 2023.

“This year, we plan to start STS-type LNG bunkering with SM JEJU LNG 2, Asia’s first LNG bunkering vessel, as well as expand the supply of LNG through Korea’s first purpose-built bunkering ship from 2023,” said a Korea LNG Bunkering Co representative, as quoted by Korean publication E2NEWS.

In addition, he added, “If the LNG bunkering business is activated in the future, it will greatly contribute to the improvement of the domestic marine atmosphere and the development of the domestic shipbuilding industry due to the increase in orders for LNG propulsion vessels.

Source:
Manifold Times

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