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Keppel forms joint venture with Shell for LNG bunkering, wins new marine contracts

Keppel forms joint venture with Shell for LNG bunkering, wins new marine contracts
Keppel Offshore & Marine has formed a joint venture with Shell to start LNG bunkering business, and clinched marine projects worth SGD120m ($89m).

KS Investments, wholly-owned by Keppel O&M, entered into an agreement with Shell Eastern Petroleum to form a Singapore-based joint venture firm to conduct LNG bunkering business.

The 50-50 joint venture firm will be engaged in supplying LNG bunkering operations services in Singapore to ships and any other marine vessels.

Shell Eastern Petroleum, wholly-owned by Royal Dutch Shell, is a licensed bunker fuel supplier in the port of Singapore, accredited by Maritime and Port Authority of Singapore (MPA).

Singapore, the world’s largest bunkering port, will commence LNG bunkering pilot programme in 2017 as the nation moves towards clean shipping and higher environmental standards.

The use of LNG on ships offers significant reductions in harmful air emissions compared to the burning of high-sulphur content bunker fuel.

Separately, Keppel O&M’s wholly-owned Keppel Shipyard has secured four marine contracts from repeat customers.

“We are pleased to secure new orders from long time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades,” said Michael Chia, managing director (marine & technology), Keppel O&M.