Cryopeak LNG Solutions Corporation, a Richmond BC based company has signed a Memorandum of Understanding with Island Tug & Barge Ltd., a leading marine bulk fuels transporter, to deliver LNG bunkering services in Southwest British Columbia, Canada, the company said in its release.
Cryopeak and ITB have developed a design for a 4,000 m3 articulated tug and barge (“ATB”) which is planned to be in operation in 2023. A key feature of this solution is that it will leverage one of ITB’s tugs designed and built in Vancouver to deliver LNG as a fuel to shipping companies calling to ports on the West Coast.
This project marks an important breakthrough for the development of LNG bunkering in Western Canada by allowing shipping companies to secure a lower cost and a more environmentally sustainable fuel source.
Cryopeak has engaged with local First Nations to develop business opportunities associated with the project.
ABS is a leader in LNG as a marine fuel, working with innovators all over the world on LNG projects that advance sustainability in shipping.
This project is in line with Cryopeak’s strategy of being a vertically integrated and full-service provider of LNG to Western and Northern Canada, as well as Alaska. Cryopeak is focused on providing customers a lower cost, more environmentally sustainable fuel source.