World News
Shell, Dubai Maritime City Ink LNG Agreement
Energy major Shell and Dubai Maritime City (DMC) have signed an agreement to explore the use of liquefied natural gas (LNG) fuel in the United Arab Emirates (UAE) and the entire Middle East, North Africa, and South Asia region, TradeArabia News Service reports.
"We are privileged to have reached this understanding with Shell in an area of mutual and topical interest of developing sustainable and environment friendly sources of energy in the maritime sector," Khamis Juma Buamim, chairman of Drydocks World and Maritime World.
The partnership is part of Dubai Maritime Green Initiative, which focuses on alternative fuels and efficiency measures.
In addition to exploring opportunities for LNG bunkering and road transportation and power generation, the two parties also discussed their ongoing cooperation, including the building in Dubai of the world's largest Turret Mooring System for a Shell floating LNG (FLNG) facility.
As a first step under the new agreement, the companies will form a joint working committee to create detailed work plans.
Shell said last year that the Turret Mooring System, being built at the Dubai Drydocks World yard, is a key component of the offshore FLNG for Shell's Prelude project in Australia.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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