South Korean public natural gas company Korea Gas Corporation and Busan Port Corporation (BPC) Thursday signed a "Business Agreement for Establishment and Activation of the Busan Port LNG Bunkering System" at the headquarters of BPC.
The agreement sees both firms conducting a joint feasibility study on establishing a LNG bunkering business to supply LNG as marine fuel to vessels entering Busan port by the first half of next year.
The study will include a comprehensive review of building a Floating LNG Bunkering Terminal at Busan port.
“In particular, Pusan ??Port is the largest port in Korea and is close to Korea Gas Corporation's Tongyeong LNG base with six major ports (in terms of freight volume in '17) in the world, which is favourable for the development of the LNG bunkering business,” says KOGAS.
“In the future, if the domestic fleet of vessels is gradually converted to LNG, it is anticipated that it will be possible to reduce 2,500 tons of fine dust emitted by ship in 2030 by 20%
“Through this event, KOGAS hopes to establish more concrete measures to build and revitalize the LNG bunkering infrastructure of Pusan ??Port by establishing a cooperative relationship with Busan Port Corporation and LNG bunkering.”
The South Korean government is supporting the use of LNG as a marine fuel, and is positioning the development to ‘revitalise’ the country’s LNG-fuelled shipbuilding sector.
Photo credit: KOGAS
Published: 6 July, 2018
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