Qatar Petroleum and Shell Sign Agreement for LNG Bunkering Infrastructure at Strategic Locations

by Ship & Bunker News Team
Wednesday June 14, 2017

Royal Dutch Shell plc today announced that Shell Gas & Power Developments B.V. (Shell) and Qatar Petroleum's Wave LNG Solutions have signed a framework agreement for the development of liquefied natural gas (LNG) bunkering infrastructure at strategic shipping locations around the world.

"We are pleased to team up with our long-term partner and industry pioneer, Shell, on this important initiative. We view LNG bunkering as a promising opportunity for LNG to further grow as a clean energy source," said Saad Sherida Al-Kaabi, Qatar Petroleum's President and CEO.

"LNG demand for bunkering is expected to increase significantly over the coming years and we believe there is real potential for such demand to reach up to 50 million tonnes per annum by 2030. Obviously, achieving this figure requires focused investments and the right partnership model, similar to the one we are establishing today."

Under the new agreement, Qatar Petroleum and Shell will work together to evaluate and progress the development of LNG bunkering facilities at various locations across Europe, the Middle East, and East Asia.

Ben van Beurden, Shell's CEO, commenting on the development, said: "as two of the world's leading LNG suppliers, Shell and Qatar Petroleum have the capability and experience to deliver LNG as a marine fuel to ship owners and operators who must meet tougher emissions regulations from 2020.

"We look forward to working with Qatar Petroleum to increase the availability of LNG as a fuel for transport."

As Ship & Bunker has reported, Shell and Qatargas previously signed two Memoranda of Understanding (MOUs) with industry partners in 2016 to explore LNG bunkering opportunities in the Middle East.