LNG Sector Ready to Meet Demand

LNG bunkering
file photo: LNG bunkering

By MarEx 2016-10-18 18:27:58

Ahead of the 70th Session of the IMO’s Marine Environment Protection Committee (MEPC) next week, the cross-industry coalition SEA\LNG has highlighted the ability of the LNG sector to meet the future emissions requirements of the global shipping industry.

SEA\LNG Chairman, Peter Keller said: “Independent of the timing of the IMO’s implementation of the 0.5 percent global sulfur cap, today LNG is already a clean, safe, practical and economically viable fuel for the shipping industry. The industry is making big steps in creating the infrastructure to enable quick, safe and cost effective LNG bunkering in key global ports; diminishing the price premium for LNG-fuelled vessels; as well as working with regulators to establish consistent international and national regulations, which we believe will enhance investment in this sector.”

The coalition has issued a position statement saying it believes that LNG will be the fuel of choice for vessels operating in global trade lanes, as well as in ECA zones, where LNG is already gaining a foothold.

There are already 86 LNG-fueled ships in operation worldwide (excluding LNG carriers) and a further 95 on order.

The LNG transportation industry has an excellent safety record where LNG is commonly used as fuel. Over the past 50 years, global LNG shipments have covered more than 100 million miles – about 4,000 times around the earth – without any major safety incidents in port or at sea.

LNG is widely available – globally there are 20 exporters of LNG and some 35 importers in almost all regions of the world.

SEA\LNG members come from across the LNG marine value chain, including LNG suppliers, shipping lines, classification societies, equipment manufacturers and port authorities. Members include Carnival Corporation, DNV GL, Eagle LNG Partners, ENGIE, GE, GTT, Keppel Offshore & Marine, Lloyd’s Register, Mitsubishi Corporation, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE Inc. and Wärtsilä.