Asia/Pacific News
Singapore: Two Companies Get MPA Funding to Build LNG Bunker Barges
Singapore energy firms FueLNG and Pavillion Gas are to build liquified natural gas (LNG) bunkering vessels with a S$3 million ($2.2m) financial leg up from the Maritime and Port Authority of Singapore (MPA).
The funds come from the S$12 million scheme announced last year which the authority set aside to encourage the take up of LNG marine fuel in the port.
"LNG is a viable marine fuel solution to meet global environmental regulations," said MPA chief executive Andrew Tan.
"We are pleased to support the building of the first two LNG bunker supply vessels for the Port of Singapore," he added.
LNG is widely tipped as a viable alternative bunker fuel to oil-derived fuel oil.
Pavillion Gas, which is backed by Singapore investment fund Temasek, has a stated aim to become a regional player in LNG.
FueLNG is a joint venture between oil major Shell and Keppel Offshore & Marine.
