KOGAS, Partners Forge FSRU Cooperation

Illustration; Image Courtesy: Hoegh LNG

Korea Gas Corporation (KOGAS) has teamed up with compatriot shipping lines on a  floating storage and regasification unit (FSRU) business cooperation.

The move targets to revive Korean shipping and shipbuilding industries which have been considerably impacted by the ongoing troubles in the maritime industry.

The partners include H-Line Shipping, Hyundai LNG Shipping, Pan Ocean, SK Shipping, and Korea Line Corporation (KLC).

Under the agreement signed on July 18, the parties agreed to participate jointly in overseas FSRU projects within a consortium that would bid for operating FSRUs in countries in Asia and Americas, local media informed.

As explained, the partnership would avail of KOGAS’ experience in building and operating LNG terminals, and the compatriot shipping companies’ experience and know-how in shipping of LNG.

The FSRU market has been singled out due to its growing potential amid rising demand for LNG and the advantages of floating LNG terminals such as low initial investments costs and short construction period.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 1 2 3 4

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >