Ashurst is advising GDF SUEZ, Mitsubishi Corporation and NYK on the development of their global joint venture relating to the supply of liquefied natural gas (LNG) as fuel for the shipping industry.

The partners are developing the joint venture in response to the introduction of significant new regulatory requirements that aim to control NOx, SOx, and CO2 emissions of ships. LNG-based fuel for ships involves much reduced emission rates when compared with more traditional fuel solutions. The joint venture also involves the construction of reportedly the world’s first LNG bunkering vessel built for the purpose of providing LNG to LNG-fuelled vessels.

The Ashurst team was co-led by energy partner Michael Burns and antitrust partner Christophe Lemaire and included senior associates Julia Derrick and Simon Naudin and associates Jerome Basdeo, Josh Cornally and Harriet Gray.