Cryopeak LNG Solutions Corp. has signed a memorandum of understanding (MOU) with a marine bulk fuels transporter to deliver liquefied natural gas (LNG) bunkering services on Canada’s West Coast.
Cryopeak signed the MOU with Seattle-based Island Tug & Barge Ltd. The companies have developed a design for a 4,000 cubic meter vessel that would fuel ships calling to ports on Canada’s west coast. The vessel is expected to be operational in 2023.
“This project marks an important breakthrough for the development of LNG bunkering in western Canada by allowing shipping companies to secure a lower cost and a more environmentally sustainable fuel source,” Cryopeak said.
In particular, the project supports the Port of Vancouver in joining other leading ports globally that are offering LNG bunkering services as the market grows for LNG marine fuel. As international regulators tighten emissions standards, the maritime industry has increasingly turned to LNG as a marine fuel because of its lower emissions profile and cost competitiveness.
Houston-based Pilot LNG LLC also announced this week that it has filed with federal regulators to build the Gulf Coast’s first dedicated LNG bunker terminal in Texas. Ships would fuel at a floating LNG terminal near Pelican Island in Galveston. The Cryopeak and Pilot announcements are the latest in a series of other deals around the world to further develop marine bunkering services.
British Columbia-based Cryopeak supplies LNG in northern and western Canada. Its fleet of tanker trucks provides gas for remote mines, power generation and utility distribution, among other applications.
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