Chevron Shipping Company, part of energy giant Chevron, has reached an agreement with Sembcorp Marine Repairs & Upgrades to complete a liquefied natural gas (LNG) fleet modification project for carbon reduction.
The project’s main aim is to cut down the carbon intensity of Chevron’s LNG fleet operations.
With the support of Sembcorp Marine, Chevron will deploy new technologies on board its vessels to help achieve energy transition targets.
Sembcorp Marine will offer engineering, procurement, installation and commissioning (EPIC) services to Chevron.
The companies plan to complete the work by the middle of 2025.
Sembcorp Marine president and CEO Wong Weng Sun said: “Sembcorp Marine is committed to advancing environmental sustainability through the development of industry-leading solutions.
“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 IMO’s target to reduce emissions from international shipping by at least half by 2050, compared to the levels in 2008.”
Chevron’s vessels will be installed with new technologies, including reliquefication systems, hull air lubrication and new gas compressors.
These changes are anticipated to lower cargo boil-off and fuel usage while increasing the volumes of delivered cargo.
The changes will also be in line with the decarbonisation goals of the International Maritime Organisation (IMO).
Chevron Shipping president Mark Ross said: “We are excited to work with Sembcorp Marine to help us advance our lower carbon goals.
“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.”