Press Release: Qatar Petroleum’s Wave LNG Solutions (QP) and Shell Gas & Power Developments B.V. (Shell) today agreed a partnership aimed at accelerating the development of LNG fuelling infrastructure around the world.
The joint venture between the two companies will invest in LNG marine fuelling, bunkering vessels and other infrastructure in key locations to meet the needs of marine customers and help to reduce emissions of the global shipping industry. These locations will leverage existing Qatar Petroleum and Shell supply positions and complement current Shell marine LNG bunkering locations in Europe, Asia and North America.
“The shipping industry is starting to make the very necessary strides to reduce emissions from vessels. LNG is already playing an important role as the cleanest, and an affordable, alternative to traditional marine fuels available today, which is why we are continuing to invest with confidence in our own chartered LNG fleet,” said Ben van Beurden, Royal Dutch Shell’s Chief Executive Officer.
“As two of the world’s leading LNG suppliers, we look forward to building on our strong long-term partnership, expanding the LNG marine fuel network and creating a safe supply chain.”
LNG is imported and exported at more than 150 locations worldwide and demand for gas as a shipping fuel could reach 35 million tonnes of LNG a year by 2035.
Shell currently supplies LNG to the world’s first LNG-powered cruise ship – owned by Carnival Corporation plc – and the world’s first LNG-powered Aframax oil tanker, the Sovcomflot vessel Gagarin Prospect. Shell also recently announced an agreement to charter a fleet of new LNG-fuelled crude oil and products tankers, as part of its drive to decarbonise shipping.
