Marubeni Becomes Newest SEA\LNG Member

Marubeni has become the newest member of SEA\LNG. Image: SEA\LNG

SEA\LNG today announced that Japan-based Marubeni Corporation (Marubeni) has become the newest member of the cross-industry coalition intended accelerate the adoption of liquefied natural gas (LNG) as marine fuel.

The addition of Marubeni - which has a history of bunker fuel trading for over 40 years - is expected to bolster SEA\LNG efforts to drive forward LNG as a marine fuel.

"Marubeni has a great wealth and breadth of expertise in relation to LNG and we welcome their knowledge as we continue to support the energy transition in shipping," said Peter Keller, SEA\LNG Chairman and Executive Vice President of TOTE Inc. (Tote).

"SEA\LNG will continue to unite organisations that work together to address market barriers to LNG uptake, and to help transform the use of LNG as a marine fuel into a global reality."

Marubeni is noted to have been involved in LNG industries by equity participation in liquefaction projects, trading, gas-fired power projects, and owning LNG carriers.

"Although our company has expertise in multiple sectors, we view LNG as a core business field within our multifaceted service offering," said Akihiko Sagara, Executive Officer and COO of Energy Division at Marubeni.

"By embracing collaboration with stakeholders in related industries, we remain committed to safeguarding the global environment in which we operate, and are privileged to be partnering with a likeminded organisation. Together with our partners, we look forward to collaboratively working towards a cleaner, more efficient shipping environment."

In January, SEA\LNG said a collaborative approach to understanding the opportunities and addressing associated commercial barriers to LNG is "crucial" to encouraging the adoption of the fuel as an alternative to traditional bunker fuels.