A 50:50 joint-venture (JV) company has been formed between subsidiaries of Keppel Offshore & Marine and Royal Dutch Shell that will establish an LNG bunkering business in Singapore.
Singapore-based companies KS Investments and Shell Eastern Petroleum entered into a shareholders’ agreement for the JV on Thursday, Keppel Corp said in an exchange filing.
The JV plans to supply LNG bunkering operations and related services to vessels at the city-state’s port.
The Port of Singapore has been keen to get ahead of the crowd in offering bunkering facilities for LNG-fuelled vessels.
In September last year, the Maritime and Port Authority of Singapore (MPA) set aside S$12m ($8.4m) from its Maritime Innovation & Technology Fund, with which it plans to contribute to the cost of building new LNG-fuelled vessels.