Under the agreement, Chevron will install new technologies aboard its vessels to support its energy transition goals. The new technologies, which include a reliquefication system, hull air lubrication, and a new gas compressor, will lower the group’s cargo boil-off, lower fuel consumption and increase volumes of cargo delivered, thereby lowering the group’s carbon footprint.
Chevron Shipping Company, the subsidiary of NYSE-listed Chevron Corporation, has entered into an agreement with Sembcorp Marine’s (SembMarine) (SGX:S51
) wholly-owned subsidiary Sembcorp Marine Repairs & Upgrades Pte. Ltd, to reduce the carbon intensity of their liquefied natural gas (LNG) fleet operations.
Sembcorp Marine will provide Chevron with engineering, procurement, installation, and commissioning (EPIC) services and expects to complete the work by mid-2025. It is said to have significant expertise in complex LNG fleet modifications and has a proven track record for lower carbon solutions for the maritime industry.
