The Spanish company, Gabadi, has formed an alliance with South Korean Hankuk Carbon to work together in the small- to medium-scale LNG bunkering market.
The South Korean company specializes in manufacturing thermic insulation for the liquated natural gas sector (LNG) and electronic substrates.
Gabadi said the agreement further expands the company’s presence in the Asian market as it had already created a joint venture in China with Aojiheng Offshore Engineering and secured contracts in Singapore.
The company is currently executing methane carrier repair at the Keppel Shipyard in Singapore. It became the first company, not being a shipyard, in being granted the license by the technologist Gaztransport and Technigaz, for the construction and repair of its membrane tanks for gas carriers, it said in its statement.
Gabadi and Hankuk Carbon believe that joining forces would enable both companies to obtain new contracts, related to the LNG bunkering, in different geographical locations, such as USA, China and Europe.