Chinese firms create LNG bunkering JV

Wed 22 Jul 2015, 11:09 GMT

Chinese firms create LNG bunkering JV

LNG bunkering stations to be built in Yangshan and Waigaoqiao.

Shanghai International Port Group (SIPG) has set up a joint venture with Shenergy (Group) Company Ltd in order to develop a liquefied natural gas (LNG) bunkering business.

The two firms are to each invest RMB 30 million ($4.9 million) in the 50-50 joint venture, which is to develop LNG bunkering stations at Shanghai's Yangshan Port and Waigaoqiao Port.

The new company is to also carry out research and development into the LNG-powered vessel market.

Both firms recently inked a framework agreement in December 2014 to jointly develop clean energy and environmentally friendly solutions in Shanghai.

LNG China Shanghai (CN) Yangshan (CN)


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