ADNOC, INPEX to Partner Up on LNG Bunkering in UAE
ADNOC Logistics & Services and INPEX Corporation have signed a framework agreement for an LNG bunkering partnership in the United Arab Emirates (UAE).
Under the agreement, the parties would explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions, including Southeast Asia.
The companies said that the use of LNG as a fuel on non-LNG carriers is expected to grow significantly as ship owners seek new compliance solutions to meet the 2020 IMO’s global sulfur cap.
“ADNOC L&S has a long-established history in LNG shipping as well as bunkering operations. Our goal, through this partnership, is to offer safe and efficient LNG fuelling solutions to our customers. With the support of our sister company, ADNOC LNG, as well as our partner, INPEX, we see a significant opportunity to become a major player in the LNG bunker market,” Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said.
“As outlined in VISION 2040, our long-term corporate vision, we will look to develop gas demand in Asia and other growing markets. LNG bunkering will be a key component to the creation of natural gas demand. INPEX aims to become a key player in natural gas development and supply in the Asia and Oceania region during the period until 2040,” Shigeharu Yajima, SVP Global Energy Marketing Division, INPEX, said.