Korea Gas Corp (Kogas) has partnered up with five other Korean companies for the set up of an LNG bunkering joint venture.
The companies joined the initiative include Busan Port Corp, steel-maker Posco, refiner S-Oil, Daewoo Logistics, and Hyundai Glovis.
Kogas aims to supply 1.36m metric tonnes of LNG marine bunker fuel by 2030 and to reduce 8,315 tonnes of sulphur emissions and 2,557 tonnes of fine dust.
As part of the plan, the joint venture will develop a LNG facility in Dangjin to promote the LNG bunkering business for ports across the country. It will deploy two bunkering ships in East Sea and the South Sea and one bunkering ship in the West Sea.
Kogas said the setup of the LNG bunkering joint venture will not only respond to the tightening of marine environment regulations, but also provide a good opportunity for the adoption of LNG as marine fuel in Korea.