World News
Pro-LNG Group Restates Environmental Case for Marine gas
Liquefied natural gas (LNG) as marine fuel is "commercially viable" as a "long-term bridging solution" to help the shipping industry address the greenhouse gas (GHG) targets set by the International Maritime Organisation (IMO), Peter Keller, who heads up SEA\LNG, has said.
"LNG in combination with efficiency measures being developed for new ships in response to the IMO's Energy Efficiency Design Index will provide a way of meeting the IMO's target of a 40% decrease in GHG by 2030 for international shipping.
"In addition, there are clear technology pathways being developed which should allow further emissions savings to be realised."
Keller cited one such pathway as "mixing LNG with bioLNG (from biogas) as a 'drop-in' fuel significantly reduces GHG emissions".
Over the longer term, Keller said that 'power-to-gas' is a "key technology with the potential to produce large volumes of renewable LNG".
With shipping looking at how it might start travelling down its road to decarbonisation, LNG as marine fuel is widely seen as capable of playing a significant role. However, the lack of infrastructure is often cited as a constraint on its development as an alternative marine fuel while critics of the fuel point to its potential as a GHG contributor.
SEA\LNG is an industry grouping that argues in favour of LNG as shipping fuel.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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