Kosan Provides LNG Bunker Options for South Korea

Danish LNG equipment manufacturer Kosan Crisplant (KC) and Korea LNG Solution have signed a detailed co-operation agreement on the development, manufacturing and sale of LNG bunkering equipment for the development of small-scale LNG as bunker fuel for ships in the South Korea over a four-year period.

The agreement was signed during the Marine Tech Korea 2016 conference being held in Gyeongnam, Korea from September 26 to 29, Kosan said September 27. The collaboration between the two parties was initiated in Copenhagen in June 2016 when they first signed an MoU with the intention of mutually exploring and benefitting from each other's strengths within the LNG market.

Kosan Crisplant, Korea LNG Solution sign co-operation agreement at the Marine Tech Korea 2016 (Credit: Kosan Crisplant)

"We have a lot to gain from this collaboration and the Korean market while at the same time contributing to the industry as a whole making KC LNG solutions available on a much larger scale." said Kosan Crisplant’s LNG manager, Lars Sall.

With growing international regulatory requirements and stricter standards for emissions, LNG is likely to be part of the fuel mix for global shipping as it becomes more cost-competitive and supply chain and infrastructures are developed. LNG bunkering has gained a lot of attention in countries such as Japan, China and South Korea as well as in Southeast Asia, especially in Singapore.  

Shardul Sharma