Keppel Corp Ltd said it entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore.

The two companies will have a 50 percent stake each in the joint venture. Its principal business activity will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services, Keppel said in a statement on Thursday.