State gas company selected for state project to establish LNG bunkering

Lim Chang-won Reporter() | Posted : September 24, 2020, 17:29 | Updated : September 24, 2020, 17:29
 

[Courtesy of Korea Gas Corp. ]


SEOUL -- A consortium led by as a state-run gas company was selected to build South Korea's first vessel for liquefied natural gas (LNG) bunkering, which is the supplying of fuel for use by ships and includes the shipboard logistics of loading fuel and distributing it among available bunker tanks.

Korea Gas Corp. (KOGAS) has formed a consortium with Busan Port Authority, Posco International, S-Oil, Daewoo Logistics and Hyundai Glovis to win a government-led bunkering project. The first LNG bunkering vessel will be built by the end of 2022 to realize a stable fuel supply for LNG propulsion ships.

"We will proactively respond to tightened global maritime environmental regulations and focus on settling LNG as fuel for ship transportation in South Korea, which is a shipbuilding and shipping powerhouse," an unnamed KOGAS official said in a statement released on September 24.

By 2030, KOGAS plans to sell 1.36 million tons of LNG for ships and reduce 8,315 tons of sulfur oxides and 2,557 tons of fine dust. The gas company operates LNG regasification terminals and natural gas pipelines in South Korea. In line with a government campaign to increase the use of renewable energy, KOGAS has promised to expand LNG charging stations in ports and cargo terminals. LNG is a proven commercial solution to meet ever-tightening emissions requirements.
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