Qatar Petroleum and Shell are to develop liquefied natural gas (LNG) infrastructure at key shipping locations around the world.
The joint venture will see the oil and gas multinationals install marine fuelling and bunkering facilities.
As a cleaner burning fossil fuel, LNG is expected to help meet the industry’s environmental and economic objectives.
Increasing numbers of ship owners and operators are now using it rather than traditional marine fuels in response to tighter sulfur and nitrogen oxide emissions regulations – in October 2016 a global 0.5% sulfur cap from 2020 was introduced.
Qatar Petroleum expect LNG demand to reach up to 50 million tonnes per annum by 2030, if focused investments and the right partnership models can be established.
Ben van Beurden, Shell’s Chief Executive Officer, said: “As two of the world’s leading LNG suppliers, Shell and Qatar Petroleum have the capability and experience to deliver LNG as a marine fuel to ship owners and operators who must meet tougher emissions regulations from 2020.
“We look forward to working with Qatar Petroleum to increase the availability of LNG as a fuel for transport.”