Dubai Maritime City and Shell sign MoU to explore future business opportunities in alternative energy
Dubai Maritime City, the world-class international maritime cluster that provides a plethora of opportunities to the maritime business today announced that it has signed an MOU with leading international energy services provider Shell to explore the diverse business options related to promoting alternative sources of energy such as Liquefied Natural Gas (LNG). The primary focus would be on exploring opportunities that would enable the adoption of LNG as a fuel in markets including marine transportation, road transportation, power and industries in the United Arab Emirates (UAE) and the wider Middle East, North Africa and South Asia (MENASA) region, said in the company's press release.
The team from Shell including Mr Roger Bounds, Global Head of Shell, LNG and Mr Mounir Bouaziz, Vice President Commercial & New Business Development were met by His Excellency Khamis Juma Buamim Chairman Drydocks World & Maritime World. They discussed the possibility of future business opportunities as well as the ongoing cooperation between the two companies including the building of the world’s largest Turret Mooring system for the floating LNG facility at DDW’s Dubai facility.
“We are privileged to have reached this understanding with Shell in an area of mutual and topical interest of developing sustainable and environment friendly sources of energy in the maritime sector. This is part of our Dubai Maritime Green Initiative, which seeks to develop and propagate viable and environment-friendly alternatives especially in the field of renewable energy and alternative fuels for improved fuel efficiency,” said His Excellency Khamis Juma Buamim, Chairman of Drydocks World & Maritime World.
The first step of such cooperation is to form a Joint Working Committee on the terms and conditions set out in the MoU to discuss and agree on detailed work plans to mature the business opportunity with a view to concluding a Joint Development Agreement. Both DMC and Shell will jointly investigate and develop the business opportunity.
DMC and its affiliates are global leaders in providing infrastructure and services to the maritime and energy (oil & gas) sectors. Shell Exploration Company B.V. and its affiliates are global leaders in the LNG industry and are developing and operating downstream LNG businesses across the globe.
The Dubai Maritime Green Initiative is a strategic movement to encourage all-round environmental excellence in maritime and allied sectors including oil, gas and energy. The main aim of the Initiative would be to encourage companies engaged in research and development on green design to disseminate green solutions for efficiency improvement in the maritime industry including areas related to shipyard concepts, demolition and waste management, project financing, equipment manufacturers & suppliers, classification societies & regulators, shipbuilding and offshore fabricators and integrated solution providers. The role of the Initiative would also to be to encourage government departments to arrive at environment friendly policies.