Cryopeak LNG Solutions Corporation and Sumitomo Corporation have signed a Memorandum of Understanding (MoU) to jointly develop an LNG bunker fuels supply chain in Pacific Northwest ports in Canada.
The agreement is in line with both parties’ initiative to build an industrial platform for procuring and supplying ‘environmentally friendly’ and ‘low-cost’ LNG for use as a marine fuel globally.
As previously reported by ship.energy’s sister publication Bunkerspot, in July, Cryopeak LNG Solutions Corporation (Cryopeak) announced it was to develop a 4,000 cubic metre (cbm) LNG bunkering barge which is planned to be in operation in 2023.
‘Cryopeak is excited to collaborate with Sumitomo Corporation to further LNG bunkering activity in North America. Both companies are driven by a desire to make purposeful and significant contributions to environmental improvement and sustainability,’ said Calum McClure, CEO of Cryopeak. ‘Offering a safe and efficient LNG bunkering solution is critical to the adoption of LNG as a marine fuel to the shipping industry.’
Under the MoU, Sumitomo will offer Cryopeak’s end-to-end LNG fuelling solutions to existing and potential customers in ports on the West Coast of North America.
‘We are very proud that the cooperation between Cryopeak and Sumitomo is paving the way towards the development of LNG as a cleaner marine fuel, especially in Vancouver, one of the most eco-friendly ports in the world,’ said Shu Nakamura, Department General Manager of Sumitomo.
‘With this agreement, we pursue our ambition to build a comprehensive network of LNG bunkering. It also underscores our commitment to offer our customers the best available and technologically proven solution to significantly reduce the environmental footprint of maritime transport.’
Among the North American Pacific Northwest ports targeted by the MoU are Vancouver, Fraser River Port, Roberts Bank and Prince Rupert.