Leapfrogging into a Global LNG Service Provider

In the LNG business, Pan Ocean has been transporting about 1,500,000 cubic meters of LNG every year from major ports of Yemen, Qatar, Oman, Southeast Asia, Russia, and Australia to the domestic LNG terminals by operating an LNG carrier named “LNG KOLT” with a capacity of 153,000 cubic meters for the KOGAS’ LNG transportation project since December 2008. On the strength of accumulated experience and maintenance knowhow in LNG business, since 2020, we have successfully signed long-term chartering contracts with SHELL and with Portuguese energy company GALP for new 174,000 cubic meter-class LNG carrier. Moreover, with the addition of more LNG carriers in 2022 to the first phase of Qatar NFE project, the world’s largest LNG exporting country, a total number of LNG carrier fleet (Including LNG bunkering vessels) under operation by the end of 2025 will be expanded to the total number of 13. The LNG business of Pan Ocean will continue to grow with an effort in expanding LNG carrier fleets as well as strengthening strategic partnership in both domestic and overseas major LNG market players.

Entering the LNG Bunkering Business

Beyond traditional LNG business, Pan Ocean has been concentrating on getting more project for LNG Bunkering business and small-scale LNG carrier service over Europe, USA, and Singapore. As a result, we have signed long-term chartering contracts with SHELL, a global oil major, for two LNG bunkering vessels. To further expand the LNG bunkering business, we are striving to make long-term contracts for new vessels with global major energy players.