KOGAS And Shell To Initiate Full-Scale LNG Bunkering Operations

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  • The 18,000 m3 capacity K.Lotus is owned by KLBV 1, a joint venture between KOGAS (40%) and Korea Shipping (60%).
  • KOGAS President Chae Hee-Bong said his company will use the experience gained from operating K.Lotus to support Korea’s domestic LNG bunkering market and understand more about the LNG bunkering business.
  • KOGAS expects the amount of LNG used as a bunker fuel will rise to about 30 million tons worldwide and 1.4 million tons in Korea by 2030.

Hyundai Mipo Dockyard has delivered the world’s largest liquefied natural gas (LNG) bunkering vessel, the K.Lotus, to Korea Gas Corporation (KOGAS) as reported by Manifold Times. 

LNG bunkering market

The ship has been hired by Shell and is currently on its route to Rotterdam, Netherlands, where it will provide LNG as a bunker fuel to large LNG-powered ships such as container ships and tankers via ship-to-ship transfer.

KLBV 1, a joint venture between KOGAS (40%) and Korea Shipping, owns the 18,000 m3 K.Lotus (60% ).

KOGAS President Chae Hee-Bong stated that his company will use the knowledge obtained from operating the K.Lotus to promote Korea’s local LNG bunkering market and gain a better understanding of the LNG bunkering industry.

Energy transportation sector

“I will do all in my power to not only increase KOGAS’ new growth energy business by acquiring sophisticated operational know-how for LNG bunkering but also to create an industrial climate that grows alongside local private firms in the transportation energy sector,” Chae stated.

Since last year, KOGAS subsidiary Korea LNG Bunkering has begun domestic Truck to Ship (TTS), Port to Ship (PTS), and STS (Ship to Ship, Ship to Ship) LNG bunker deliveries, according to him.

By 2030, KOGAS estimates that the amount of LNG utilised as a bunker fuel will have increased to around 30 million tonnes globally and 1.4 million tonnes in Korea.

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Source: Manifold Times 

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