Japanese Astomos Energy Corporation and Norway-based oil and gas company Statoil have reached a Memorandum of Understanding (MOU) for further study in applying liquefied petroleum gas (LPG) as shipping bunker fuels.
Under the agreement, the parties aim to enhance further cooperation for Astomos and Statoil to share and research information for further collaboration in the fields of consideration of LPG fueled vessels, organizing global supply sites for LPG bunkering and many other fields relating to LPG bunkering.
For the past years, Astomos and Statoil have been forming respectable business partnership in the fields of seaborne LPG trading.
This MOU made the partnership stronger for two companies and will contribute to expansion of new business fields, Astomos Energy said.
LPG bunkering concept was shaped as one of the solutions for the approaching SOx Regulation for shipping fuels in 2020.