They’re forming a JV to deliver bunkering solutions.
Keppel Offshore & Marine and BG Group have jointly nabbed a licence to supply liquefied natural gas (LNG) as ship fuel to vessels in the Port of Singapore in 2017.
According to a media release by Keppel, the two companies’ joint bid is the LNG bunker supplier licence is one of the top two bids selected by the Maritime and Port Authority of Singapore (MPA).
With the granting of the licence, Keppel O&M and BG Group will work on forming a 50-50 joint venture to deliver an end-to-end bunkering solution using LNG derived from BG Group’s LNG portfolio. Meanwhile, Keppel O&M is expected to leverage its expertise in LNG vessel servicing.
The partnership will provide MPA a strong support in developing Singapore into a key lNG bunkering hub in Asia. Moreover, as the shipping industry’s demand for green solutions continues to rise, the two companies can meet the needs for sustainable shipping with LNG solutions, stated Keppel O&M’s chief executive officer Chow Yew Yuen.
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