Regional LNG: Keppel, Shell form LNG bunkering JV in Singapore
Friday, July 8 2016 - 02:08 AM WIB
SGX-listed Keppel Corporation Limited (KCL) announced that KS Investments Pte Ltd (Keppel), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, entered on Thursday into a shareholders agreement with Shell Eastern Petroleum (Pte.) Ltd. (Shell), a wholly-owned subsidiary of Royal Dutch Shell plc, for the formation of a Singapore incorporated joint venture company (JVCO).
KCL said in a statement that Keppel and Shell will each hold a 50 percent stake in the JVCO.
The company said the JVCO will establish a LNG bunkering business in Singapore, and its principal business activities will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services.
Editing by Reiner Simanjuntak