Gabadi, Hankuk launch LNG alliance

Thursday, 16 November 2017

The new alliance will build on Hankuk’s existing expertise in the manufacture of thermic insulation for LNG systems and electronic substrates for industrial uses. The firm will now seek to develop solutions for “the carrier-to-carrier fuel supply of LNG”, both at small and medium scale.

The deal builds on Gabadi’s existing joint venture in China, with local firm Aojiheng Offshore Engineering. The firm is currently executing methane carrier repair in Singapore and is the first non-shipyard company, to be granted a license by LNG technologist Gaztransport and Technigaz, for the construction and repair of its membrane tanks.

Headquartered in South Korea, Hankuk Carbon has three plants, located in Miryang and Hamyang, Korea.

Partners foresee multiplier effect

The joint venture partners expect the new collaboration will have a multiplier effect, allowing the combined alliance to obtain new contracts related to the LNG bunkering, and expand into a range of different markers, including the U.S., China and Europe.

“With this agreement, a new solution is offered, due to the combination of the LNG insulation manufacturing technology from Hankuk Carbon, with the membrane tanks installation technology from Gabadi. Without a doubt, we will occupy a dominant position, owing to this cooperation”, stated Antonio Llago, CEO of the Galician company.

Based in Galicia in the north of Spain, Gabadi has provided outfitting and auxiliary services for the shipbuilding industry for over 25 years from its headquarters in Naron.