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Kosan Crisplant A/S (KC) and Korea LNG Solution have signed a cooperation agreement as a follow-up to a previous agreement signed by both parties in June 2016.

As part of the deal, which was signed at this week's Marine Tech Korea 2016 conference in Gyeongnam, South Korea, both companies have agreed to cooperate on the development, manufacture and sale of LNG bunkering equipment for the small-scale supply of LNG to ships in South Korea over a period of four years.

The collaboration between the two LNG specialist firms was initiated in Copenhagen last June when a memorandum of understanding (MoU) was signed with the intention of mutually exploring and benefitting from each other's strengths within the LNG market.

In a statement, Denmark-based Kosan Crisplant said it is "excited about this new collaboration and is eager to consolidate its expert position in the LNG industry among the world's biggest players."

"Now that the co-operation is expanding and becoming more specific, both parties are looking forward to reaping the benefits that the agreement may bring," Kosan Crisplant added.

Commenting on the new agreement, Lars Sall, Koran Crisplant's LNG Manager, said: "We have a lot to gain from this collaboration and the Korean market while at the same time contributing to the industry as a whole, making KC LNG solutions available on a much larger scale."