DECEMBER 6, 2018 — Japan's Inpex Corporation has signed a Memorandum of Understanding on LNG bunkering with Abu Dhabi National Oil Company subsidiary ADNOC Logistics & Services.
Under the MOU, the two companies will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions, including Southeast Asia.
The use of LNG as a fuel is set to grow significantly as shipowners seek new compliance solutions to meet the IMO 2020 global sulfur cap.
The UAE is strategically located as a major bunkering hub and is also a significant producer and exporter of LNG, through ADNOC LNG.
The agreement was signed by Capt. Abdulkareem Al Masabi, CEO of ADNOC L&S, and Mr. Shigeharu Yajima, SVP Global Energy Marketing Division, Inpex.
Capt. Abdulkareem Al Masabi said: "ADNOC L&S has a long established history in LNG Shipping as well as Bunkering Operations. Our goal, through this partnership, is to offer safe and efficient LNG fueling solutions to our customers. With the support of our sister company, ADNOC LNG, as well as our partner, Inpex, we see a significant opportunity to become a major player in the LNG bunkering market."
Mr. Shigeharu Yajima said: "ADNOC and Inpex share the responsibility, as global energy companies, to provide our customers with a safe and efficient fuel that is compliant to international emissions regulations. As outlined in VISION 2040, our long-term corporate vision, we will look to develop gas demand in Asia and other growing markets. LNG bunkering will be a key component in the creation of natural gas demand. Inpex aims to become a key player."