Asia/Pacific News
Hong Kong Launches Incentive Scheme to Boost LNG and Methanol Bunkering
Hong Kong has launched a new scheme offering HK$500,000 ($63,695) for each alternative marine fuel bunkering operation using LNG or green methanol, aiming to jumpstart a low-carbon fuel supply at its port.
The Green Maritime Fuel Bunkering Incentive Scheme is designed to support early movers by helping cover upfront costs and risks, the Hong Kong government said in a statement on its website on Monday.
Eligible companies can claim the HK$500,000 incentive for their first two operations, completed within one year of risk assessment approval by the Marine Department (MD).
Firms that have already completed relevant risk assessments or bunkering operations before the scheme's launch are also eligible.
"The maximum amount of incentive for each type of recognised green maritime fuel is HK$2,000,000 [$254,780], and incentives will be disbursed on a first-come, first-served basis," it said.
"Each company can only receive the incentive at most twice for each type of green maritime fuel under the Scheme."
The government currently recognises LNG and methanol as green fuels, although LNG's overall GHG impact can be high due to methane slip.
"The Scheme will help encourage pioneer enterprises to start green maritime fuel bunkering businesses in Hong Kong early, as well as help level the playing field between pioneers and late joiners," a spokesperson of MD said.
To apply, eligible companies must submit an application form to the MD within two months of each qualifying bunkering operation, along with the bunker delivery note and proof of vessel ownership or chartering (if applicable).
