Dubai Maritime City (DMC), a global maritime cluster, has signed an MoU with energy services provider Shell to explore the diverse business options related to promoting alternative sources of energy.

The primary focus would be on exploring opportunities that would enable the adoption of Liquefied Natural Gas (LNG) as a fuel in markets including marine transportation, road transportation, power and industries in the UAE and the wider Mena and South Asia region.

The team from Shell including Roger Bounds, global head of Shell, LNG and Mounir Bouaziz, vice president Commercial & New Business Development was met by Khamis Juma Buamim chairman Drydocks World & Maritime World.

They discussed the possibility of future business opportunities as well as the ongoing cooperation between the two companies including the building of the world’s largest Turret Mooring system for the floating LNG facility at DDW’s Dubai facility.

“We are privileged to have reached this understanding with Shell in an area of mutual and topical interest of developing sustainable and environment friendly sources of energy in the maritime sector,” said Juma Buamim.

This is part of our Dubai Maritime Green Initiative, which seeks to develop and propagate viable and environment-friendly alternatives especially in the field of renewable energy and alternative fuels for improved fuel efficiency.”

The first step of such cooperation is to form a Joint Working Committee on the terms and conditions set out in the MoU to discuss and agree on detailed work plans to mature the business opportunity with a view to concluding a Joint Development Agreement. Both DMC and Shell will jointly investigate and develop the business opportunity. – TradeArabia News Service