AsiaLNG as FuelVessels

South Korea’s Kogas orders LNG bunkering ship from Hyundai Heavy

By LNG Prime Staff
South Korea's Kogas orders LNG bunkering ship at Hyundai Heavy
Image: Kogas

South Korean LNG importing giant Kogas said it has ordered a liquefied natural gas bunkering vessel from compatriot Hyundai Heavy Industries.

Kogas said in a statement its newly established LNG bunkering unit signed the shipbuilding contract with HHI on February 24. The vessel will have a capacity of 7,500 cbm.

In addition, the firm’s unit would receive 15 billion won ($13.3 million) in subsidies from the Ministry of Trade, Industry and Energy for the shipbuilding project.

Kogas says the total price tag for the LNG bunkering vessel would reach 49.8 billion won ($44.3 million).

The vessel will join its fleet in 2023, adding to SM Jeju LNG2, Korea’s first LNG bunkering vessel which Kogas chartered from Korea Line.

Kogas says it plans to start ship-to-ship operations with SM Jeju LNG2 later this year.

The state-owned firm previously said it aims to supply 1.36 million tons of LNG for ships by 2030 as owners increasingly opt for the fuel to meet tighter regulations and slash emissions.

Most Popular

LNG Terminals

LNG shipping rates continue to decrease

Spot LNG freight shipping rates in both basins continued to decrease this week, while European prices increased compared to last week.
Corporate

GTT secured orders for nine LNG carriers in Q1

French LNG containment giant GTT received orders for nine liquefied natural gas carriers in the first quarter, while its revenue rose 31.6 percent compared to the same period last year.
Vessels

QatarEnergy LNG carrier named in China

China’s Hudong-Zhonghua hosted a naming ceremony for one 174,000-cbm liquefied natural gas (LNG) carrier built as part of the massive QatarEnergy shipbuilding program.

More News Like This

LNG Terminals

South Korea’s Kogas reports lower sales

South Korean LNG importing giant Kogas said its gas sales dropped by 3.8 percent in March compared to last year. South Korean LNG imports rose last month year-on-year.
Vessels

VesselsValue: South Korea’s LNG carrier orderbook worth $71.3 billion

South Korean yards have 276 LNG carriers worth $71.3 billion on order, according to the newest data by Veson Nautical’s VesselsValue.
LNG Terminals

South Korea’s Kogas boosts sales in February

South Korean LNG importing giant Kogas said its gas sales rose 20.4 percent in February compared to the same month last year.
Vessels

HD Hyundai Heavy lays keel for Excelerate’s FSRU

South Korean shipbuilder HD Hyundai Heavy Industries has laid the keel for Excelerate Energy's new floating storage and regasification...

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA