The following is the text of a news release from ExxonMobil, Eagle LNG Partners LLC and Crowley Maritime Corp.:
(LONDON) — ExxonMobil, Eagle LNG Partners LLC and Crowley Maritime Corp. have signed an agreement to collaborate on the development of liquefied natural gas as a marine fuel. The goal is to establish the storage and technical support necessary to provide safe, reliable LNG delivery for vessel operators bunkering in North America.
The three companies signed a memorandum of understanding (MoU) on Tuesday. The parties will initially focus their efforts in Florida before expanding to other North American markets.
ExxonMobil 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. 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,” said Luca Volta, LNG venture manager at ExxonMobil. “This agreement provides additional opportunities for vessel operators looking to adopt LNG as a marine fuel.”
The decision by the International Maritime Organization (IMO) to introduce a global 0.50 percent sulfur cap on vessel emissions in 2020 will impact bunker fuel selection. The parties believe that the marine industry is heading for a multi-fuel future that will include low-sulfur options, with LNG an important part of that mix.