Asia/Pacific News
Multi-Party MOU Signed to Establish LPG Bunkering Hub in South Korea
Korea LPG Association today announced that it has signed a memorandum of understanding (MOU) with GE and others to develop a liquid petroleum gas (LPG) bunkering hub and related infrastructure.
"Once the project is completed, Korea will have established the world's first LPG bunkering hub and can position well for the market to supply LPG as marine fuel," said Korea LPG Association.
Efforts under the MOU will first be focused on a LPG-powered coastal car ferry that is expected to be put into operation next year on domestic Korean routes and on Korea-China or Korea-Japan routes.
"Introduction of the 'eco-friendly LPG (Liquid Petroleum Gas) fuelled ship' is near with the ship development completed and is expected to see it next year in Korea, which reduces the emissions of SOx, NOx and PM and other toxic materials significantly," said Korea LPG Association.
The contract for the LPG-fuelled vessel's construction is slated to be signed during Q1 of this year.
Along with GE and the Korea LPG Association, signatories to the MOU include Hyun-Seong MCT, which is leading LPG ship project, ship operator YoungSung Global, Far East Ship Design & Engineering, ship management company Dintec, supplier of the fuel gas supply system and tank Answer, Bureau Veritas, and shipyard Yuil.
