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Qatar Petroleum's Wave LNG Solutions and Shell Gas & Power Developments B.V. (Shell) have signed a framework agreement to develop liquefied natural gas (LNG) bunkering infrastructure at "strategic shipping locations" across the globe.

Commenting on the news, Saad Sherida Al-Kaabi, Qatar Petroleum's President and CEO, said: "We are pleased to team up with our long-term partner and industry pioneer, Shell, on this important initiative. We view LNG bunkering as a promising opportunity for LNG to further grow as a clean energy source."

Al-Kaabi added: "LNG demand for bunkering is expected to increase significantly over the coming years and we believe there is real potential for such demand to reach up to 50 million tons per annum by 2030. Obviously, achieving this figure requires focused investments and the right partnership model, similar to the one we are establishing today."

Ben van Beurden, Shell's CEO, remarked: "As two of the world's leading LNG suppliers, Shell and Qatar Petroleum have the capability and experience to deliver LNG as a marine fuel to ship owners and operators who must meet tougher emissions regulations from 2020. We look forward to working with Qatar Petroleum to increase the availability of LNG as a fuel for transport."

The agreement follows two memoranda of understanding (MoUs) that Shell and Qatargas signed in 2016 - with Maersk (February 2016) and United Arab Shipping Company (UASC) (April 2016) - to explore LNG bunkering opportunities in the Middle East.

Pursuant to the agreement signed this week, Qatar Petroleum and Shell are to evaluate and progress the development of LNG bunkering facilities at various locations across Europe, the Middle East and East Asia.

Qatar is the world's largest LNG producer and exporter, contributing to more than 30 percent of global LNG trade.

Last week, in the wake of the boycott of Qatar by some Middle East countries, Qatar Petroleum declared that it was "conducting business as usual" in all its upstream, midstream and downstream activities.

"Qatar Petroleum remains committed to its international reputation as a trustworthy, stable and reliable global energy producer and provider, and is confident that it will continue to live up to this reputation," the company said on June 10, with Al-Kaabi moving to assure customers of its "determined efforts to continue uninterrupted supplies as the world's most reliable LNG supplier".

Image: Saad Sherida Al-Kaabi, Qatar Petroleum's President and CEO, and Ben van Beurden, Shell's CEO, at this week's LNG bunkering signing ceremony.