EMEA News
Gasum Expects FuelEU to Drive Bio-LNG Demand in 2025
Finnish state-owned energy firm Gasum saw a 41% year-on-year increase in LNG bunker sales in 2024, despite high TTF prices—the key LNG pricing benchmark in Europe—dampening demand toward the end of the year.
Bio-LNG sales, however, were weaker than expected due to low voluntary demand from ships. Gasum expects this to change in 2025 with the implementation of the FuelEU Maritime regulation.
"Interest towards liquefied biogas increased towards the end of the year with the implementation of the FuelEU Maritime emissions reduction regulation set to start in 2025," it said in its annual report.
The company expects LNG bunker demand to grow further as more LNG-fuelled vessels join the global fleet. At the same time, competition is set to intensify with new entrants in the market and an increasing number of LNG bunkering vessels ordered by competitors.
Overall, it expects LNG demand from shipping to be positive in 2025 and beyond.
"The FuelEU maritime regulation, which tightens every five years, is expected to drive both LNG and LBG sales in the maritime segment together with the growing number of dual fuel vessels," Gasum said.
It also sees interest growing for pooling services in response to FuelEU Maritime regulation.
Gasum launched a marine pooling service at the end of 2024, which allows certain vessels to generate compliance on behalf of non-compliant vessels within the pool by using bio-LNG.
"Gasum will manage the pool, supply liquefied biogas to the compliance generators and offer over-compliance to shipping companies with conventional fuel vessels," it said.
