WesPac forms LNG partnership

This new partnership is able to provide both the funding required for LNG conversion as well as the infrastructure for LNG supply and delivery. The companies say conversion to LNG while financing the upfront investment provides the economic benefit of LNG fueling to shipowners without capital deployment, and ensures compliance with ECA regulations taking effect 1 January 2015.

“The first question every ship owner asks is ‘Where will I get the LNG?’ because if they cannot ensure the future delivery of LNG then they will not see the investment payback,” said Pace Ralli, CEO and co-founder, CME.

“CME’s partnership with WesPac provides the answer to this question and greatly simplifies the decision to convert to clean, lower-cost LNG fuel,” he added.

As partners in the emerging LNG fueling market, WesPac and CME say the aim is to help reduce the barriers to LNG adoption and help the “early movers” in the industry.

WesPac is a leading providers of energy infrastructure and LNG solutions, while FCME is a global facilitator of finance mechanisms for LNG conversion and Emission Control Area (ECA) compliance.