All data are based on the daily closing price as of November 22, 2024

South Korea’s KOGAS Completes First Simultaneous LNG Bunkering Operation

The company aims to enhance efficiency in maritime refueling with LNG transfer innovation
South Korea
k 036460.KO Mid and Small Cap 2000
Share this on

South Korea’s state-run Korea Gas Corp. (KOGAS) announced that its subsidiary, Korea LNG Bunkering, successfully executed the country’s first simultaneous LNG bunkering operation. This milestone was achieved by the Blue Whale, a bunkering vessel that delivered approximately 300 tons of LNG to a container ship at Busan New Port’s Pier 5 while the ship was unloading cargo.

The LNG was initially loaded onto the Blue Whale at KOGAS’s Tongyeong production facility before being transferred to the container ship. This simultaneous operation represents a significant step forward in the LNG bunkering sector, as it reduces refueling time and costs by allowing ships to refuel while performing other activities. This innovation is anticipated to boost the efficiency and appeal of LNG as a maritime fuel, aligning with global efforts to reduce emissions in shipping.

KOGAS’s advancement in LNG bunkering technology is part of a broader strategy to position South Korea as a leader in eco-friendly marine fuels. By enhancing refueling efficiency, the company aims to support the shipping industry’s transition towards more sustainable energy sources. The successful operation underscores South Korea’s commitment to expanding its LNG infrastructure and capabilities, addressing both environmental concerns and the logistical needs of the maritime sector.

 

 

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top