SK Gas and Hyundai Glovis have agreed to cooperate on liquefied natural gas (LNG) bunkering business.
SK Gas announced on Sept. 4 that its LNG bunkering subsidiary, Eco Marine Fuel Solution, and Hyundai Glovis held a signing ceremony for LNG ship fuel supply contract based in Korea’s southeast region.
Under this contract, Eco Marine Fuel Solution will supply LNG for ship fuel to Hyundai Glovis. Based on this ship fuel LNG supply contract, SK Gas will proceed to establish LNG bunkering infrastructure for the stable operation of Hyundai Glovis’s eco-friendly car carrier fleet.
SK Gas and Hyundai Glovis plan to lead the LNG bunkering market by spearheading the creation of an LNG bunkering ecosystem centered on the southeast region, including Ulsan, Busan, and Gwangyang, which are major ports of call for car carriers with high refueling frequency.
As the International Maritime Organization (IMO) has officially set a goal to achieve carbon neutrality across the shipping and shipbuilding industries by 2050, Hyundai Glovis plans to introduce more than 30 LNG dual-fuel propulsion car carriers by 2028. LNG dual-fuel propulsion engines use both existing fuel and low-carbon LNG.
Once the infrastructure is established, Hyundai Glovis’s ships heading to Europe, the Middle East, and the United States can reliably receive fuel through Eco Marine Fuel Solution when calling at ports near the southeast region.
Yoon Byung-seok, CEO of SK Gas, said, “Decarbonization of the shipping industry is a global challenge, and building LNG bunkering infrastructure is the first step.” He added, “With this contract as an opportunity, SK Gas will expand eco-friendly energy solutions and actively support the domestic shipping and logistics industry to secure global competitiveness.”
A Hyundai Glovis official stated, “It is an essential task for companies to implement carbon neutrality for sustainable management,” adding, “We will realize carbon neutrality through practical efforts such as introducing low-carbon ships and securing LNG fuel.”
