LNG emerges preferred fuel in maritime sector — Report
By Eyo Nsima
The Liquefied Natural Gas, LNG, has emerged the preferred fuel for the maritime sector between 2023 and 2025, according to LNG Bunkering North American Summit 2023.
In its report obtained by The Daily, www.thedaily-ng.com, LNG Bunkering North American Summit 2023, noted that the preference of the product is due mainly to its environmental friendliness and impact on operations.
The report stated: “The global maritime industry is at a critical juncture, as it faces the twin challenges of reducing environmental impact and ensuring sustainable operations. With increasing awareness of climate change and the need to transition to cleaner energy sources, the search for viable alternatives to traditional marine fuels has gained significant momentum.
“In this context, liquefied natural gas (LNG) has emerged as a compelling solution, offering a cleaner and more sustainable option for powering ships and vessels. The period from 2023 to 2025 represents a pivotal phase in the development of the LNG bunkering and alternative marine fuels market.
“This timeframe presents new regional opportunities that can reshape the industry landscape, providing fresh avenues for growth, investment, and collaboration. Recognizing the significance of these opportunities, this report delves into the regional dynamics and developments within the LNG bunkering sector, while also exploring the advancements in other alternative marine fuels.
“The report is designed to provide stakeholders with a comprehensive understanding of the evolving market landscape, enabling them to make informed decisions and seize the emerging opportunities. By analyzing the latest trends, market drivers, technologies, and challenges, this report offers valuable insights into the regional prospects of LNG bunkering and alternative marine fuels.
“One of the key focal points of this report is the exploration of regional opportunities. While LNG bunkering has gained global recognition, its implementation and growth potential vary across different regions.
“Each region possesses unique characteristics, including geographical advantages, regulatory frameworks, and existing infrastructure, which influence the adoption and development of LNG bunkering. The report equips stakeholders with the knowledge required to tap into the untapped potential and foster growth in their respective regions.
“Moreover, the report goes beyond LNG bunkering to encompass other alternative marine fuels that are increasingly gaining attention within the industry. Biofuels, hydrogen, ammonia, and other innovative fuels hold promise as potential solutions for reducing greenhouse gas emissions and achieving sustainability goals.
“The report evaluates the pros and cons associated with each alternative fuel, shedding light on their viability, challenges, and opportunities in the marine sector. In conclusion, the report serves as a comprehensive guide for stakeholders in the maritime industry.
“By examining the regional opportunities, market trends, and technological advancements, this report provides a roadmap for navigating the dynamic landscape of LNG bunkering and alternative marine fuels. With the right insights and strategic approaches, stakeholders can harness these new opportunities, drive sustainable growth, and contribute towards the decarbonization of the maritime industry.”
