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KOGAS to start full-scale LNG bunkering business with Shell at Rotterdam

25 Mar 2022

Korea Gas Corporation (KOGAS) on Tuesday (22 March) said it has received the world’s largest liquefied natural gas (LNG) bunkering vessel K.Lotus from Hyundai Mipo Dockyard on 16 March.

The vessel has been chartered to Shell and is now en route to Rotterdam, the Netherlands where it will supply LNG as a bunker fuel to large LNG-powered ships such as container ships and tankers via ship-to-ship transfer.

The 18,000 m3 capacity K.Lotus is owned by KLBV 1, a joint venture between KOGAS (40%) and Korea Shipping (60%) .

KOGAS President Chae Hee-Bong said his company will use the experience gained from operating K.Lotus to support Korea’s domestic LNG bunkering market and understand more about the LNG bunkering business.

“I will do my best to not only expand KOGAS’ new growth energy business by securing advanced operational know-how for the LNG bunkering business, but also build an industrial environment that grows together with domestic private companies in the transport energy sector,” said Chae.

He notes KOGAS subsidiary Korea LNG Bunkering has started domestic Truck to Ship (TTS, Truck to Ship), Port to Ship (PTS, Port to Ship), and STS (Ship to Ship, Ship to Ship) LNG bunker deliveries since last year.

KOGAS expects the amount of LNG used as bunker fuel will rise to about 30 million tons worldwide and 1.4 million tons in Korea by 2030.

Related: Hyundai Mipo builds “K. LOTUS”, the world’s largest LNG bunkering vessel
Related: South Korea government to exempt LNG import levies in support of LNG bunkering
Related: KOGAS joint venture appoints Hyundai Heavy Industries to build LNG bunker vessel
Related: South Korea: Ministries unveil initiative to advance green tech for shipping & marine fuel
Related: Korean Register introduces LNG Fuel and Bunkering Simulation Center in Busan
Related: Argus Media: South Korea’s revised gas law promotes LNG bunkering
Related: Korea Gas Corporation forms consortium to establish LNG bunkering joint venture
Related: South Korean government opens tender to endorse LNG bunker tanker building project
Related: South Korea to invest $3.4 billion to support LNG bunkering sector
Related: KOGAS signals intent to improve LNG bunkering capacity
Related: KOGAS and Busan Port enter LNG bunkering study
Related: South Korea: KOGAS supports push for LNG bunkering
Related: Korean government eases regulation for LNG bunkering


Photo credit: Korea Gas Corporation
Published: 25 March, 2022

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