Petronas Trading Corporation (Petco) signed a deal with Sumitomo Corporation for LNG bunkering in Malaysia and Tokyo Bay, Japan.
Petco, a unit of Malaysian energy giant Petronas, signed a memorandum of collaboration with Sumitomo to jointly market and supply LNG and related services through Petronas Marine.
The MoC serves to build industrial platforms and end-to-end supply chains to offer LNG for use as a marine fuel and reduce the GHG emissions attributable to maritime transport.
Department General Manager of Sumitomo, Shu Nakamura, noted that the partnership paves the way towards the development of LNG as a cleaner marine fuel in both Malaysia and Tokyo Bay, Japan, which are strategically important marine hubs to both parties.
As LNG continues to play a key role as the next generation fuel to cater for the bunker fuel demand in the maritime industry, both companies are committed in promoting this solution to the market by having the right infrastructures in place, ensuring the availability of supply and through continuous advocacy to users.
In November 2020, Petronas delivered its first Ship-to-Ship LNG bunkering transfer at the port of Pasir Gudang , Johor from the 7,500 cubic meter Avenir Advantage, Petronas’ first LNG bunkering vessel (LBV) under the Petronas Marine brand to promote the use of LNG as a cleaner marine fuel.
Sumitomo has also ordered an LNG bunkering vessel through a joint venture, Ecobunker Shipping Co., Ltd, which is on track to commence LNG bunker service in Tokyo Bay in 2021.