Qatar Petroleum subsidiary Wave LNG Solutions and Shell Gas & Power Developments have signed a framework agreement to develop LNG bunkering infrastructure at strategic shipping locations globally.
The agreement follows two MOUs signed by Shell and Qatar Gas with industry partners in 2016 to explore LNG bunkering opportunities in the Middle East. This new agreement will see the two companies evaluate and progress the development of LNG bunkering facilities at locations across Europe, the Middle East and East Asia.
Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum, said: “we are pleased to team up with our long term partner and industry pioneer, Shell, on this important initiative. We view LNG bunkering as a promising opportunity for LNG to further grow as a clean energy source.
“LNG demand for bunkering is expected to increase significantly over the coming years and we believe there is real potential for such demand to reach up to 50 million tons per annum by 2030. Obviously, achieving this figure requires focused investments and the right partnership model, similar to the one we are establishing today.”
Ben van Beurden, CEO of Shell, added: “Shell and Qatar Petroleum have the capability and experience to deliver LNG as a marine fuel to ship owners and operators who must meet tougher emissions regulations from 2020.”