Singapore-headquartered provider of offshore, marine, and energy solutions Seatrium has delivered the first of several liquefied natural gas (LNG) vessels undergoing lower carbon modification to U.S.-headquartered energy major Chevron.
Seatrium’s scope of work in the “milestone” lower-carbon LNG fleet upgrade job entails providing turnkey engineering, procurement, installation, and commissioning (EPIC) services. Asia Vision was the first vessel to be delivered as part of the project.
The Singapore-based player expressed enthusiasm about installing new technologies aboard other vessels to support the U.S. major’s lower carbon ambitions. When the deal was announced in late February 2023 , the firm, which was known as Sembcorp Marine at the time, expected to complete the upgrade work by mid-2025.
Chevron says it wants to lower the carbon intensity of LNG transportation in line with the International Maritime Organization’s (IMO) decarbonization targets. It aims to do this by leveraging lower carbon technologies, which is expected to result in a reduced cargo boil-off and lower fuel consumption, paired with an uptick in the cargo volume delivered.
The U.S. giant signed a deal with another Singaporean firm last week – Sembcorp Industries. Under the 10-year deal, Chevron is set to import up to 0.6 million tonnes per annum (mtpa) of LNG from Sembcorp, with delivery scheduled to start in 2028.