CLPe Holdings, a subsidiary of Hong Kong-based electricity company CLP, and state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) have signed a cooperation framework agreement to form a joint venture (JV) for providing LNG bunkering services in the port of Hong Kong.
Under the agreement, the JV will sell and supply LNG as fuel to ships in the port of Hong Kong, supporting the development of the LNG bunkering sector in the Greater Bay Area (GBA).
This move is said to align with the Action Plan on Green Maritime Fuel Bunkering recently presented by the Hong Kong government.
The action plan, introduced on November 15, 2024, sets out clear strategies and actions to promote the development of Hong Kong into a high-quality green maritime fuel bunkering center.
The objectives, among others, include following the emission reduction target set by the IMO to reach net-zero carbon emissions from international shipping by or around 2050; reducing carbon emissions from Hong Kong-registered ships by at least 11% (compared to 2019) and ensuring that 55% of the diesel-fueled vessels in the government fleet switch to using green maritime fuels by 2026; as well as ensuring that 7% of Hong Kong-registered ships take up green maritime fuels by 2030.
With the timely implementation of this plan, the government expects that Hong Kong will provide bunkering services to ocean-going vessels powered by green maritime fuels such as LNG or green methanol for over 60 times a year by 2030, involving over 200,000 tonnes of green maritime fuels.
The strategy was also supported by a partnership between bunker service provider Chimbusco Pan Nation Petro-Chemical (CPN) and Hong Kong and China Gas Company (Towngas), aimed at developing domestic and international green methanol marine fuel markets.