A shareholders agreement between KS Investments Pte Ltd (Keppel), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, and Shell Eastern Petroleum (Pte.) Ltd. (Shell), a wholly-owned subsidiary of Royal Dutch Shell plc, will lead to the formation of a Singapore incorporated joint venture company (JVCO).
The JVCO follows the appointment in January this year by the Maritime and Port Authority of Singapore (MPA), of Keppel Offshore & Marine Ltd, through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), and BG Group plc (BG Group) to supply Liquefied Natural Gas (LNG) bunker to vessels.
The JVCO will establish a LNG bunkering business in Singapore, and its principal business activities will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services.
The shareholding of Keppel and Shell in the JVCO will be 50% and 50% respectively.
(Source: Keppel Corporation Limited)
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