Qatargas And Partners' Deal to Push LNG as Marine Fuel

Doha, April 17 (QNA) - Qatargas, United Arab Shipping Company and Shell have signed a Memorandum of Understanding (MOU) to explore the development of Liquefied Natural Gas (LNG) as a marine fuel in the Middle East region. This is the second such agreement signed by Qatargas and Shell in as many months and establishes another core partnership within the shipping industry, the gas company said today. The MOU was signed at a ceremony attended by Qatargas Chief Executive Officer, Khalid Bin Khalifa Al-Thani, United Arab Shipping Company Chief Executive Officer, Jorn Hinge and Managing Director and Chairman of Qatar Shell Companies, Michiel Kool. Through the joint relationship the partners will explore the development of new markets for LNG to be used as propulsion fuel within the Middle East Region and the conversion of UASCs existing vessels providing the opportunity to use a cleaner fuel. The MOU envisages LNG supplies for this pioneering initiative to be made available from Qatargas 4, a joint venture between Qatar Petroleum and Shell Gas B.V., with United Arab Shipping Company Line potentially using the fuel for its recently built container ships. Qatargas Board of Directors Chairman Saad Sherida Al Kaabi said, "LNG as a marine fuel is gaining momentum in the deep sea transportation industry as the best alternative to meeting increasing environmental standards." Qatargas CEO Khalid Bin Khalifa Al-Thani said, "LNG as a transportation fuel is growing and we with our partners believe we have the people, tools and resources to make it a reality. We see this as our opportunity to support the international efforts to reduce greenhouse emissions and create a cleaner environment for future generations." (QNA)