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Chevron Shipping ties up with Sembcorp Marine to upgrade its LNG tanker fleet
Chevron Shipping announced an agreement with Sembcorp Marine Repairs & Upgrades, a wholly owned subsidiary of Sembcorp Marine Ltd. (Sembcorp Marine), intending to reduce the carbon intensity of their LNG fleet operations.
Under the agreement, with Sembcorp Marine’s support, Chevron will install new technologies aboard Chevron vessels to support their energy transition goals. The changes are also in alignment with decarbonization targets set by the International Maritime Organization (IMO).
Chevron aims to lower the carbon footprint of LNG transportation by installing new technologies such as a reliquefication system, hull air lubrication, and a new gas compressor. Together, these changes are expected to reduce cargo boil-off, lower fuel consumption and increase volumes of cargo delivered.
“We are excited to work with Sembcorp Marine to help us advance our lower carbon goals,” said Mr. Mark Ross, President of Chevron Shipping Company. “We believe LNG will be a key component of the global energy transition for years to come, and Chevron is focused on continuing its disciplined capital investment in our LNG fleet.”
Sembcorp Marine has significant expertise in complex LNG fleet modifications and has a proven track record for lower carbon solutions for the maritime industry. Sembcorp Marine will provide Chevron with engineering, procurement, installation, and commissioning (EPIC) services and expects to complete the work by mid-2025.