Global LNG Bunker Consumption Predicted to Reach 22,540 Kilotonnes by 2025

by Ship & Bunker News Team
Tuesday January 20, 2015

Global liquefied natural as (LNG) bunker consumption is expected to reach 22,540 kilotonnes (kt) by 2025, soaring from just 70 kt in 2013, Transparency Market Research (TMR) has predicted. 

In a new report, the organisation predicted that LNG consumption would grow at an annual compound growth rate of 63.6 percent between 2014 and 2025, with the world using $11,775.4 million worth of LNG by then. 

However the group noted the infrastructure remains a limiting factor, as projects are currently concentrated in the Baltic Sea, North Sea, and English Channel where Emission Control Area (ECA) sulfur limits have made LNG a more economically viable option. 

Northern Europe also currently has the most LNG fueling stations globally due to existing European policies encouraging the adoption of LNG, while North America will purportedly benefit from lower natural gas prices. 

For the Asia-Pacific region, TMR says despite investment in LNG facilities, it will likely not see demand grow until 2020 when sulfur regulations could come into effect in the area. 

Transparency Market Research also recently released a report forecasting the global bunker market to expand to 460 million tonnes by 2020, 

Ship & Bunker News Team
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