Sembcorp Marine Ltd. will support Chevron Corp.’s efforts to reduce the carbon footprint of its LNG fleet operations under an agreement through their subsidiaries Sembcorp Marine Repairs & Upgrades Pte. Ltd. and Chevron Shipping Company LLC, according to a Feb. 26 press release.
Chevron’s decarbonization techniques involve reducing cargo boil-off and fuel consumption while increasing volumes of cargo delivered by installing a reliquefication system, hull air lubrication and a gas compressor.
Sembcorp Marine will provide Chevron’s LNG fleet with engineering, procurement, installation and commissioning services, to be finished by mid-2025.
“Working with Chevron on its LNG fleet upgrades is an immediate way to accelerate the lowering of the carbon footprint in the maritime industry to achieve the [International Maritime Organization’s] target to reduce emissions from international shipping by at least half by 2050, compared to the levels in 2008,” said Wong Weng Sun, Sembcorp Marine president and CEO.
Sembcorp Marine provides engineering solutions to global offshore, marine and energy industries.
Recommended Reading
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
EON Enters Funding Arrangement for Permian Well Completions
2024-12-02 - EON Resources, formerly HNR Acquisition, is securing funds to develop 45 wells on its 13,700 leasehold acres in Eddy County, New Mexico.
Oxy’s Hollub Drills Down on CrownRock Deal, More M&A, Net-zero Oil
2024-11-01 - Vicki Hollub is leading Occidental Petroleum through the M&A wave while pioneering oil and gas in EOR and DAC towards the goal of net-zero oil.
Artificial Lift Firm Flowco Seeks ~$2B Valuation with IPO
2025-01-07 - U.S. artificial lift services provider Flowco Holdings is planning an IPO that could value the company at about $2 billion, according to regulatory filings.
Utica Oil E&P Infinity Natural Resources’ IPO Gains 7 More Bankers
2024-11-27 - Infinity Natural Resources’ IPO is expected to provide a first-look at the public market’s valuation of the Utica oil play.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.