Qatargas, the Maersk Group and Shell signed a Memorandum of Understanding (MOU) to explore the development of LNG as a marine fuel in the Middle East region.
This event highlights the commitment and innovative approach that is being undertaken by industry leaders Qatargas, Shell and Maersk to identify and develop new market opportunities through collaboration and strategic partnership.
Through the joint relationship the partners will explore the development of new markets for LNG to be used as propulsion fuel for merchant vessels. This can contribute to improve the environmental footprint of merchant shipping which currently relies predominantly on heavy fuel oils. The MOU envisages LNG supplies for this pioneering initiative to be made available from Qatargas 4, a joint venture between Qatar Petroleum and Shell Gas B.V., with Maersk Line potentially using the fuel for its merchant vessels.
The partners will continue to work diligently to develop LNG as Marine Fuel and fulfil aspirations of supplying the Merchant Fleet with clean burning fuel before the end of the current decade.