South Korea’s Busan Port Authority (BPA) is pushing forward with an ambitious plan to build dedicated bunkering infrastructure for LNG and green methanol at Busan New Port, with a target completion date of 2032.
According to Ship & Bunker, BPA held a stakeholder meeting with industry and government representatives to discuss the proposed development and gather feedback. The authority published a statement on its website outlining the scope and intent of the project.
A Strategic Bet on Alternative Fuels
The initiative forms a central part of BPA’s broader strategy to establish Busan as a leading supply hub for alternative marine fuels. As Ship & Bunker reports, the push comes as global shipping operators face an increasingly stringent regulatory environment driven by the International Maritime Organization’s emissions reduction framework.
The proposed development would occupy approximately 120,000 square metres of land in the southern container hinterland area of Busan New Port — a purpose-designed zone intended to accommodate large-scale fuel storage and distribution operations.
What the Infrastructure Would Include
BPA’s plan outlines a significant investment in storage capacity. According to the report, the proposed facilities would include:
- LNG storage tanks with a combined capacity of 370,000 cubic metres
- Green methanol storage tanks with a capacity of 150,000 cubic metres
- Dedicated berthing facilities for bunker vessels
The authority indicated that this infrastructure would be designed to ensure reliable and stable supply of cleaner marine fuels as demand from the shipping sector grows.
Meeting Demand as Regulations Tighten
Ship & Bunker notes that BPA positioned the project as a direct response to the evolving needs of international shipping companies transitioning away from conventional fuels. With LNG and methanol increasingly being selected as compliance pathways, ports that can offer reliable bunkering services for these fuels stand to gain a competitive advantage in global maritime traffic.
No further details on financing, contracting, or project phasing were included in the statement as reported.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
