BunkeringGreater ChinaPorts and Logistics
SIPG establishes LNG bunkering joint venture
Shanghai: Shanghai International Port Group (SIPG) has established a joint venture with Shanghai local energy firm Shenergy to develop an LNG business.
The two companies have each invested RMB30m ($4.83m) to take a 50% share in the jv, Shanghai Port Energy Company, which will develop LNG bunkering stations at Shanghai’s Yangshan Port and Waigaoqiao Port. The company will also conduct research and development for LNG-powered vessels.
The two companies signed a framework agreement in December 2014 to jointly develop clean energy and green port in Shanghai.