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SAFETY4SEA

Kogas and partners form Korean LNG bunkering JV

by The Editorial Team
July 14, 2020
in Fuels
kogas lng

Credit: Kogas

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South Korea’s Kogas joined forces with five Korean companies to construct an LNG bunkering joint venture in the country.

The Korean companies that joined the initiative are Busan Port Corp, steel-maker Posco, refiner S-Oil, Daewoo Logistics, and shipper Hyundai Glovis.

The partners inked a collaboration deal and plan to establish the venture by October, according to LNG buying giant Kogas.

The aim is to promote LNG bunkering business across the country and to respond to stricter regulations on shipping emissions.

RelatedNews

Korean and Indian giants to join forces on shipbuilding initiatives

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Also, Kogas aims to supply 1.36 million tons of LNG for ships and achieve sales of about 1 trillion won ($830 million) by 2030. The Korean company plans two LNG bunkering ships in the East Sea and the South Sea, and one vessel in the West Sea.

The LNG plans include one LNG shipping facility in Dangjin.

Kogas and partners form Korean LNG bunkering JVKogas and partners form Korean LNG bunkering JV
Kogas and partners form Korean LNG bunkering JVKogas and partners form Korean LNG bunkering JV
Tags: South Korea
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