Greece and China will work together on a €1.2 million ($1.6 million) research project looking at the use of liquefied natural gas (LNG) bunkers, according to the Hellenic Register of Shipping (HRS), Ship & Bunker reports.
The research, part of the "Bilateral S & T Cooperation between China and Greece, 2012-2014," is being coordinated by the HRS.
A Greek research team, made up of the Naval Architecture Department at the Technological Institute of Athens and the naval design office E. Petichaki in Greece, will focus on passenger and car ferries, while the Chinese team, consisting of the Engineering University of Harbin and the shipping company China International Marine Containers Ltd., will work on container ships.
The goal of the project is the development of new products and services targeted at the European and international markets. HRS said LNG is attractive as a marine fuel because it has the potential to provide both reduced emissions and lower operating costs due to its "considerably lower price."
"Consequently, it is expected to dominate in the near future, due to rising of fuel prices," the organisation said. The team in Greece will receive 60 percent of the funding, with the remaining 40 percent going to the Chinese team.
A recent report by Det Norske Veritas (DNV) suggests LNG bunkers will grow in popularity in the near future, and one in 10 newbuildings over the next eight years will have a gas engine.
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