Asia/Pacific News
Kosan Crisplant Details Cooperation on LNG Bunkering Equipment with Korea LNG Solution
Kosan Crisplant A/S (Kosan Crisplant) Tuesday announced that it has signed a cooperation agreement with Korea LNG Solution detailing the two parties' joint plans for the development, manufacturing, and sale of liquefied natural gas (LNG) bunkering equipment.
The agreement is said to support the development of small-scale LNG as bunker fuel for ships operating in South Korea.
"We have a lot to gain from this collaboration and the Korean market while at the same time contributing to the industry as a whole making KC LNG solutions available on a much larger scale," said Lars Sall, Kosan Crisplant's LNG manager.
The agreement was signed at the Marine Tech Korea 2016 conference in Gyeongnam, Korea, which runs from September 26 to 29.
The new agreement is said to build on a Memorandum of Understanding (MoU) signed between Kosan Crisplant with Korea Gas Corporation (KOGAS) in June for the development of LNG bunkering and bunkering facility technologies, including high efficient BOG (boil off gas) treatment and small-scale LNG.
"Now that the co-operation is expanding and becoming more specific, both parties are looking forward to reaping the benefits that the agreement may bring," said Kosan Crisplant.
In July, Lee Kwan-Sup, South Korea's Vice Minister of Trade, Industry and Energy said the country intends develop its coast as a LNG bunkering hub in the region.
