LNG: The Green Future For Bunkering
Blog Article - November 19, 2020
LNG has grown to be an established technology. The recently published ‘Strategy&’ report, which is produced by PwC in association with the Petroleum Economist, shared the views of representatives from Carnival Corporation, Caronte & Tourist, DESFA, Edison, Enagas Emprende on the development of LNG. I welcomed the opportunity to join the panel of contributors to provide commentary on the development of LNG and the growth of infrastructure to support its use.
At Total Marine Fuels Global Solutions, we strongly believe in the future of this fuel. Estimations are that global bunkering vessel capacity will reach 8 MTPA by 2023, and will be able to support the expected demand. Across the maritime sector, carbon emissions are a major concern but with LNG as a ‘here and now’ solution, it is a fuel that complies with the increasingly stringent regulatory environment, and is currently the most environmentally sustainable solution for newbuild ships as we strive for a cleaner future.
As this report highlights, from a shipowner’s standpoint, LNG offers an immediate reduction in pollution enhancing a company’s corporate social responsibility (CSR) credentials and delivers economic benefits. For LNG suppliers, small-scale infrastructure allows for the scalability of investment and the flexibility to meet green demand in different markets.
Despite the temporary disruption triggered by the COVID-19 crisis, demand for LNG as a bunkering fuel will continue to grow, and we are already planning for the accelerated adoption of LNG bunkering in the next few years as its potential is fully realised with industry’s transition towards sustainable mobility.
You can read more on what other industry stakeholders and I have shared in PwC’s latest report that can be downloaded here.