LNG Bunkering

Argus Media: South Korea’s revised gas law promotes LNG bunkering

The separation of the LNG bunkering market, coupled with relaxations on import volumes and price regulation,is aimed at revitalising the domestic LNG market, it said.

Published

6 years ago

August 6, 2020

Admin

Jonah Foong of global energy and commodity price reporting agency Argus Media on Wednesday (5 August) published an update on the Korean government’s revised policies to lower barriers of entry to the liquified natural gas (LNG) bunkering industry and outlines its impact on fostering the fledgling sector:

South Korea has revised legislation governing the development of its urban gas business to include LNG business for vessel use, as part of an effort to promote its domestic LNG bunkering sector.

The revised Urban Gas Business Act takes effect today and will also see the LNG bunkering sector classified separately from the existing gas market, with businesses wishing to engage in LNG bunkering subject to separate regulations.

The government expects the separation of LNG bunkering from the existing gas market, coupled with relaxations on import volumes and price regulation, to create new demand for LNG and revitalise the domestic LNG market.

The revised legislation is aimed at opening up the fledgling LNG bunkering market to more LNG suppliers to ensure robust and competitive supplies. Interested LNG bunker fuel suppliers will no longer be required to seek government approval on the price and volume of LNG imports, although the government must still be notified of any import plans.

The government has lowered the minimum requirement for private-sector firms to enter the bunkering market as LNG fuel suppliers. Firms are required to have an LNG storage tank, an LNG tank attached to a vehicle or an LNG supply vessel, as well as a minimum of 100mn won ($84,000) in capital. LNG bunkering involves the supply of the fuel from truck to ship, or from ship to ship or storage tank to ship.

South Korea has been promoting LNG bunkering by encouraging the development and distribution of “environmentally friendly” vessels, which could support demand for the use of LNG in bunkering operations, as well as vessels powered by LNG. It has already said that it will order 140 LNG-powered vessels over the next six years to support its small and medium-size shipbuilding industry.

South Korea’s LNG bunkering demand is expected to rise to 1.23mn-1.36mn t in 2030 and 3.37mn-3.43mn t in 2040, according to the Korea Energy Economics Institute. State-owned LNG importer Kogas said in 2018 that it expects demand in the domestic LNG bunkering market growing to 311,000 t/yr by 2022.

The move to foster the growth of LNG bunkering is in line with stricter restrictions on vessel emissions by the International Maritime Organisation (IMO) that came into force this year. The IMO has capped the sulphur content in marine fuels at less than 0.5pc as of 1 January from 3.5pc previously, accelerating the shift away from heavy fuel oil to cleaner bunker fuels like LNG.

Kogas signed a deal last month to set up an LNG bunkering joint venture by October with steel producer Posco, shipowner Hyundai Glovis, refiner S-Oil, Busan Port Corporation and Daewoo Logistics. Kogas plans to acquire three LNG bunkering vessels as part of the venture, two of which are expected to operate in the East Sea/Sea of Japan and South Sea and another to operate in the West Sea/Yellow Sea.

Kogas also plans to develop an LNG bunkering facility in Dangjin on South Korea’s northwest coast, with a new LNG receiving facility expected to be completed in 2025. It had said in 2018 that it plans to build a new LNG bunkering facility in the southeast of the country by 2022.

The firm owns and operates five of the country’s seven terminals with a combined nameplate import capacity of 103mn t/yr. The remaining two terminals are the 3mn t/yr Boryeong, which is jointly owned by GS Energy and SK and Posco’s Gwangyang.

Photo credit: Argus Media
Published: 6 August, 2020

Alternative Fuels

China: CIMC Enric and Sinopec to team up on LNG, methanol bunker fuels in new deal

Under the new agreement, the companies will deepen cooperation across the LNG value chain and develop bunkering solutions including truck-to-ship bunkering services.

Published

21 hours ago

August 21, 2026

Admin

China: CIMC Enric and Sinopec to team up on LNG, methanol bunker fuels in new deal

Clean energy equipment and services provider CIMC Enric on Monday (17 August) said it has signed a strategic cooperation agreement with Sinopec Fuel Oil Sales Co Ltd, covering LNG, green methanol, shipbuilding and new energy for marine applications.

Under the new agreement, the companies will deepen cooperation across the LNG value chain and develop bunkering solutions including truck-to-ship bunkering services. They also plan to expand into emerging marine fuels and energy solutions, including green methanol and sustainable aviation fuel (SAF).

The partnership will focus on five areas: energy-resource cooperation, shipbuilding, marine-fuel bunkering, vehicle-related services and integrated services.

The agreement was signed in Shenzhen on 14 August by Yang Xiaohu, executive director and president of CIMC Enric, and Xu Tao, deputy general manager and Party committee member of Sinopec Fuel Oil.

The cooperation will span commercial implementation, industry development and technology innovation.

The partnership comes as the shipping industry accelerates its transition towards lower-carbon fuels amid tightening International Maritime Organization emissions regulations and China’s carbon-reduction goals.

CIMC Enric specialises in equipment for the clean-energy sector, while Sinopec Fuel Oil leverages the resource and supply network of China Petroleum & Chemical Corporation (Sinopec). Both said their complementary capabilities provide a basis for moving beyond a conventional equipment-supply relationship towards broader cooperation integrating equipment, fuels, applications and technology.

The two companies began working together in October 2022, initially focusing on LNG and CNG storage and transportation equipment. Their cooperation has since expanded into marine equipment, green methanol bunkering, storage and transportation equipment, and external gas-source procurement.

The companies said they will establish a regular cooperation mechanism and develop detailed projects to accelerate implementation. The partnership is intended to strengthen collaboration between energy-equipment and energy-supply companies and support the maritime industry’s transition towards lower-carbon fuels.

Photo credit: CIMC Enric
Published: 21 August, 2026

LNG Bunkering

Bunkering vessel “Avenir Advantage” completes first LNG delivery to cruise ship

Ship delivered LNG to Royal Caribbean Group’s “Icon of the Seas” in Honduras, marking its first LNG bunkering operation for the cruise line and expanding small-scale LNG supply in the Caribbean.

Published

2 days ago

August 20, 2026

Admin

Bunkering vessel “Avenir Advantage” completes first LNG delivery to cruise ship

Bunker supplier Avenir LNG on Wednesday (19 August) said its bunkering vessel Avenir Advantage has completed its first LNG bunkering delivery to Royal Caribbean Group’s cruise ship, Icon of the Seas in Honduras, marking a milestone for the company’s LNG supply operations in the Caribbean.

The company said the operation supports the cruise industry’s transition towards lower-emission marine fuels while demonstrating the flexibility of small-scale LNG infrastructure in the region.

Avenir LNG thanked Axpo Group, the vessel’s crew, shore teams, port stakeholders and other partners involved in the operation.

The company added that it aims to support further safe and reliable LNG deliveries in the future.

Photo credit: Avenir LNG
Published: 20 August, 2026

LNG Bunkering

Amazónica LNG joins SEA-LNG as coalition expands into South America

SEA-LNG announces the membership of Amazónica LNG, a Colombian LNG import, storage and regasification company developing bunkering-ready infrastructure on the country’s Caribbean coast.

Published

3 days ago

August 19, 2026

Admin

Amazónica LNG joins SEA-LNG as coalition expands into South America

Industry coalition SEA-LNG on Tuesday (18 August) announced the membership of Amazónica LNG, a Colombian LNG import, storage and regasification company developing bunkering-ready infrastructure on the country’s Caribbean coast.

Amazónica LNG is a joint venture between port logistics specialist Retramar and private equity investor Affinity Energy. The company operates the Palermo LNG terminal in Sitio Nuevo, Magdalena, on Colombia’s Caribbean coast near Barranquilla, combining a floating storage unit with regasification and small-scale LNG distribution capability.

Cartagena and Barranquilla have a focus on cargo and cruise activity along Colombia’s Caribbean coast. In 2025, CONTECAR and the Sociedad Portuaria Regional de Cartagena together handled over 4 million TEUs of containerised cargo. This is around 63% of all containerised cargo handled by Colombia’s public-service port companies.

The Cartagena Cruise Terminal serves 34 cruise lines, while the Sociedad Portuaria Regional de Barranquilla handled approximately 3.5 million tonnes of cargo in 2025. Together, these showcase the scale of maritime activity that will support the development of LNG bunkering infrastructure in the Colombian Caribbean.

Within this context, LNG offers an immediate route to decarbonisation that is available today, helping the maritime value chain reduce greenhouse gas and local air emissions. It also gives the sector a pathway to meet increasingly demanding international decarbonisation requirements over time, as compatible vessels and infrastructure enable the shift to liquefied biomethane and e-methane.

Alberto Consuegra, CEO of Amazónica LNG, said: “The opportunity for Amazónica LNG is focused firmly on unlocking LNG as a practical transition fuel for the region. We make this possible by further advancing shipping decarbonisation as Cartagena and the Colombian Caribbean establish themselves as a future-ready bunkering hub serving Latin America and the wider Caribbean. Joining SEA-LNG will help us expand our network and join a coalition of first movers who are dedicated to advancing the methane decarbonisation pathway.”

Steve Esau, COO of SEA-LNG, added: “Amazónica LNG’s membership extends SEA-LNG’s reach into Latin America at a pivotal moment, growing the infrastructure which is critical for methane’s global adoption. As decarbonisation requirements tighten across international shipping, Amazónica LNG’s infrastructure on Colombia’s Caribbean coast will accelerate the adoption of the methane pathway.”

LNG bunkering infrastructure continues to expand rapidly worldwide, with LNG now available at more than 220 ports globally, and LNG-fuelled vessels accounting for almost 90% of all alternative-fuel ships currently on order.

Amazónica LNG’s membership adds Latin American port and terminal expertise to a coalition dedicated to the growth of global methane marine fuel value chain spanning owners, ports, fuel producers, OEMs, insurers, classification societies that enables the transition to sustainable shipping.

Photo credit: Amazónica LNG
Published: 19 August, 2026