Chevron Takes Steps To Reduce Methane Emissions From LNG Carriers

Chevron Corporation’s CVX Chevron Shipping Company, in partnership with Wärtsilä, will convert engines on six liquefied natural gas (LNG) carriers from dual-fuel to spark gas operation to cut methane emissions and support its carbon reduction goals.

The order for the first two vessels was placed in the third quarter of 2024 after two years of collaboration.

The company believes that reducing methane emissions is crucial for lowering carbon intensity.

Wärtsilä’s 50DF to SG engine conversion aims to address this by switching from diesel pilot fuel to spark ignition, optimizing combustion to reduce methane slip and enhance efficiency.

“Chevron Shipping aims to reduce methane emissions intensity of our LNG fleet in support of a lower carbon future,” said Barbara Pickering, president of Chevron Shipping.

Also Read: Chevron Slams Biden’s LNG Export Pause, Touts Natural Gas For AI Growth: Report

This week, in a speech at the GasTech conference in Houston on Tuesday, CEO Michael Wirth predicted that the permitting halt will lead to higher energy costs, jeopardize supplies for America’s European allies, and increase emissions by delaying the shift from coal to gas.

Wirth predicted that the permitting halt will lead to higher energy costs, jeopardize supplies for America’s European allies, and increase emissions by delaying the shift from coal to gas.

Last week, Chevron Shipping teamed up with Mitsui O.S.K. Lines (MOL) to install the Wind Challenger, a wind-assisted propulsion system, on a new LNG carrier.

Investors can gain exposure to the stock via EA Series Trust Strive U.S. Energy ETF DRLL and SPDR Select Sector Fund – Energy Select Sector XLE.

Price Action: CVX shares are up 1.27% at $145.78 at the last check Thursday.

Photo by Jonathan Weiss on Shutterstock

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.