LNG confidence following market growth
An LNG supplier predicts continued growth after a big increase in the number of orders for LNG-fuelled ships last year.
The order book for LNG-powered ships grew substantially, the LNG bunkering infrastructure is maturing and the pricing of LNG has become structurally competitive versus marine gasoil (MGO), Titan LNG has remarked.
It stated it was “very much looking forward to 2018 as in the past year the stage has been set for a push in the adoption of LNG as a marine fuel beyond the tipping point.”
Titan LNG emphasised that with the 2020 global sulphur cap imminent, ship owners are facing a choice between MGO, heavy fuel oil (HFO) with scrubbers or LNG fuel.
It added that it believes scrubbers “can only be a temporary solution” and that “LNG fuelled ships,
combined with power-to-gas or biogas offer a credible and cost competitive path to decarbonisation
and improved air quality.”
The company said it is confident that overcoming the barriers to scaling up LNG as a transportation fuel is worth it and it stands by its mission to help eradicate oil burn.
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