[Having a fruitful meeting with 'B' company by sharing the idea on LNG bunkering system and agreed to collaborate on a feasibility study]
We, ISSAC E&C, have been making efforts to enlarge business area into LNG bunkering field. As a first step, ISSAC is going to conduct a feasibility study on LNG bunkering terminal in the Mediterranean area, the Aegean sea and Marmara sea for 6 months as a government task from Korean Ministry of Maritime Affairs and Fisheries.
In order to discuss further in details on this business, we went on business trip to Turkey for 6 days (1st of Jan through to 6th of Jan., 2018) and had fruitful meetings with local esteemed companies who will jointly collaborate in a feasibility study.
An esteemed Turkish company specialized in shipbuilding equipment will lead this project and ‘K’ law firm, an investment consulting company in Oil and Gas industry, will also participate as a partner.
One of the participants, 'B' company, a country owned company in energy field like KOGAS in Korea, has particularly agreed to cooperate conducting feasibility study on LNG bunkering business in Turkey.
ISSAC will conduct this feasibility study with the goal to fabricate FSRU and/or FLBT and apply this new concept of LNG bunkering system in Mediterranean and Black sea area. This new concept of LNG bunkering system is considered as the most efficient alternative to global air pollution and is expected to be in much demand globally in the near future.
[A simple MOU signing ceremony was held at the headquarter of ‘K’ law firm in Istanbul on the 3rd of Jan., 2018]
Through this opportunity, we will be able to boost domestic shipbuilding and relevant equipment business and accumulate new technology relevant to LNG bunkering by fabrication and operation & maintenance of world first FLBT and/or FSRU.