South Korea’s Ulsan port in LNG bunkering deal

South Korea’s Ulsan port said it is moving towards in its attempt of becoming the country’s first port to provide liquefied natural gas (LNG) bunkering.

The port has signed a three-year deal with public institutions and private companies to explore the development of LNG bunkering infrastructure, LNG supply, and the procurement of bunkering-related equipment and systems, the Ulsan Port Authority (UPA) said in a statement issued on July 28.

UPA said it has inked the private-public collaboration deal with 14 organisations including the world’s largest corporate buyer of LNG, Kogas, Korea Gas Technology Corporation, shipbuilding giant Hyundai Heavy Industries (HHI), SK Shipping etc.

South Korea is the world’s second largest importer of LNG and imports the chilled fuel via the Pyeongtaek, Incheon and Tongyeong facilities.

The country is also building the fourth LNG import terminal at Samcheok. Kogas in December completed the first phase of the LNG receiving terminal located some 250 kilometers east of Seoul.

LNG World News Staff