Asia: Growth Market for LNG Bunkers

by Ship & Bunker News Team
Tuesday May 22, 2018

A push by Japanese shipping companies to embrace liquified natural gas (LNG) as an alternative bunker fuel to oil-derived fuel could stimulate gas exports from the US Gulf Coast.

With four major Japanese companies -- Kawasaki Kisen Kaisha, Chubu Electric Power, Toyota Tsusho and Nippon Yusen Kabushiki Kaisha -- behind two joint ventures to supply LNG and expand its use by regional shipping, the Asia Pacific region is set to become a fast-growing market for LNG bunkering.

"Asia Pacific is projected to be the fastest growing market for LNG bunkering," the Seattle-based analyst, Coherent Market Insights, was quoted as saying by energy news provider E&E News.

China overtook South Korea as the second-largest LNG importer last year, but the spike in consumption in China was driven by seasonal demand for winter heating. However, China is deemed the most promising future demand growth market for LNG