SK Gas has become an integral part of Korea’s pioneering endeavor in the realm of liquefied natural gas (LNG) bunkering projects, as revealed by the local gas supplier on Wednesday.
The company formalized a memorandum of understanding with H-Line Shipping, a shipping company headquartered in Seoul, and the Ulsan Port Authority (UPA). This landmark agreement marks the inception of a collaborative LNG bunkering project, with the primary objective of establishing a bunkering infrastructure within the southeastern port city of Ulsan.
Elevating its significance, this endeavor stands as the inaugural public-private initiative of its kind, a testament to SK Gas’s innovative spirit. The underlying concept of LNG bunkering, involving the provision of LNG fuels to ships, holds immense promise in significantly reducing pollutants emitted as compared to conventional petroleum alternatives like diesel.
With concerted efforts, SK Gas, H-Line Shipping, and UPA are charting a course towards the creation of a joint venture slated for establishment in the first half of 2024. This joint enterprise also envisions the construction of a state-of-the-art LNG bunkering vessel, poised to redefine the future of sustainable maritime fuel supply.
As a LPG specialized company, SK Gas has been stably supplying LPG in Korea. LPG is now positioning as eco-friendly energy and not just fuel for the commoners. SK Gas aims to become a “total solution provider” of the energy industry by expanding the existing LPG business, maximizing synergy, and creating new growth engines in line with the rapidly changing energy industry.