ExxonMobil, Eagle LNG Partners LLC and Crowley have signed a memorandum of understanding to collaborate on the development of liquefied natural gas as a marine fuel.
According to the joint release, the goal is to establish the storage and technical support necessary to provide safe, reliable LNG delivery for vessel operators bunkering in North America.
As reported, the three parties will initially focus their efforts in Florida before expanding to other North American markets.
ExxonMobil says it will provide its technical support and expertise to help the parties carry out safe bunkering operations and sell LNG bunker fuel to vessel operators. Eagle LNG Partners will supply the LNG and will design, build and operate small-scale production and storage facilities, as well as coordinate land-based LNG transportation. In turn, Crowley will provide bunker logistics and ensure safe and reliable operations.
“The memorandum of understanding is another major step forward in developing LNG as a marine fuel. It will leverage the specialist knowledge and expertise of ExxonMobil, Eagle LNG Partners and Crowley to the benefit of vessel operators bunkering in North America,” says Luca Volta, LNG venture manager at ExxonMobil. “This agreement provides additional opportunities for vessel operators looking to adopt LNG as a marine fuel.”
The companies explain that the International Maritime Organization’s decision to introduce a global 0.50% sulfur cap on vessel emissions in 2020 will impact bunker fuel selection, and as such, they believe the marine industry is heading for a multi-fuel future that includes low-sulphur options, especially LNG.