BP, NYK to work on LNG and other fuels as part of decarbonization move

Energy major BP and Japan’s shipping giant NYK Line are joining forces to work on slashing emissions in the shipping sector by transitioning from current marine fuels to alternatives such as LNG.

The duo signed a memorandum of understanding to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonize, according to a joint statement on Wednesday.

For shipping, the companies would collaborate and identify opportunities to help transition from current marine fuels to alternatives such as LNG, biofuels, and methanol, and to develop future fuels such as ammonia and hydrogen.

“Getting this journey right will be critical to enabling the shipping industry to meet its long-term decarbonization ambitions,” the duo said.

Almost 250 years of combined experience

For other hard-to-abate industrial sectors, the two companies will also consider potential marine transportation and other solutions for carbon dioxide.

Moreover, BP and NYK would explore participation in the supply chains for ammonia and hydrogen to be used in heavy industry and power generation, to help those sectors to decarbonize, they said.

“BP and NYK Line have a combined experience of almost 250 years working in the shipping sector, strong existing relationships and a shared understanding of the need for the marine industry to decarbonize,” William Lin, EVP regions, cities and solutions, BP, said.

“By bringing together our technical expertise, understanding of the supply chain, and insights from our customers, I am confident that together we can do more to drive change at pace in hard-to-abate sectors,” Lin said.

“By combining BP’s technological expertise and worldwide network in integrated energy with NYK Line’s expertise and technology as one of the world’s largest shipping and logistics companies, we hope to become a leader in the decarbonization of the shipping industry,” Akira Kono, chief executive of NYK Line’s energy division, said.

NYK’s LNG fuel plans

NYK has this year revealed several developments related to LNG as fuel. Most recently, the firm said it has joined forces with Monohakobi Technology Institute and Finnish engineering firm Elomatic to develop a design for an ammonia-ready LNG-fueled vessel.

The shipping giant also recently confirmed plans to order 12 LNG-powered pure truck and car carriers at two compatriot yards.

Including these additional 12 new vessels, NYK’s total number of LNG-fueled PCTCs would increase to 20 by fiscal 2028 through a total investment of about 200 billion yen ($1.81 billion).

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

Bangladesh receives boost from World Bank to buy LNG supplies

The World Bank has approved a project aimed at helping Bangladesh's state-owned company Petrobangla to secure liquefied natural gas (LNG) supplies.

Kimmeridge’s Commonwealth LNG gets FERC approval

Kimmeridge's Commonwealth LNG has received the Federal Energy Regulatory Commission’s final order upholding authorization for its planned 9.5 mtpa LNG export project near Cameron, Louisiana.

More News Like This

Tortue LNG cargo heads to Europe

UK-based energy giant BP has shipped the third LNG cargo produced at the Greater Tortue Ahmeyim FLNG project, located offshore Mauritania and Senegal, to Europe, according to shipping data.

Argentina’s Enarsa gets offers for new LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received six offers for its third LNG cargo tender in 2025.

Brazil’s GNA launches second LNG power plant

Brazilian joint venture Gas Natural Acu has launched commercial operations at the second plant as part of its LNG-to-power project in the Port of Acu in Rio de Janeiro.

BP seals LNG SPA with India’s Torrent Power

A unit of UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with India's Torrent Power.