A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year,
A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday.
The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as a cleaner alternative.
U.S. President Donald Trump's administration is seeking to expand LNG exports to help reduce Europe's dependency on Russian gas after Moscow's invasion of Ukraine three years ago.
U.S. LNG can be used as a marine fuel in U.S. ports and surrounding waters without export licences needed, which is emerging as a separate market that the project is looking to capitalise on.
The facility is located on the Texas City Ship Channel and the Galveston LNG Bunker Port (GLBP) company will supply LNG by fuel barge to the expanding fleet of LNG-fuelled vessels in the greater Houston-Galveston region, GLBP said.
GLBP is a joint venture between Houston based Pilot LNG and Seapath, a subsidiary of global business group Libra.
The total project's overall cost is estimated in the region of at least $300 million, Seapath said.
The project received the final authorisations from
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