Keppel Corporation on Thursday said that it has entered into a shareholders agreement with Hague-based LNG giant Shell to create an LNG bunkering joint venture in Singapore.
According to the company’s statement, Keppel and Shell will each have a 50 percent shareholding in the joint venture.
The principal business activities of the joint venture will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services.
The deal comes after a series of steps taken by the Maritime Port Authority of Singapore to prepare itself to be an LNG bunker-ready port and to stimulate the use of liquefied natural gas as a marine fuel.
Most recently the MPA extended its incentive programmes to LNG-fueled vessels that, starting July 1, receive a flat rate of 25 percent concession in port dues.
LNG World News Staff