Asia/Pacific News
South Korea Prepares for Ulsan LNG Bunkering
Thursday August 17, 2023
A trio of South Korean firms are planning to set up LNG bunkering at the port of Ulsan.
SK Gas, H-Line and the Ulsan Port Authority have signed a memorandum of understanding to develop an LNG bunkering project, news provider LNG Prime reported on Thursday.
The companies plan to create a joint venture for the project in the first half of 2024, and then to order an LNG bunker delivery vessel.
LNG for now remains the dominant alternative bunker fuel, with several hundred ships now using it as fuel. The main challenge facing the LNG bunker industry now is the scaling-up of greener bio- and synthetic LNG production to meet the needs of shipowners seeking to cut the GHG emissions of their gas-powered tonnage.
