What LNG trends should companies take into account?Natalya Kuznetsova, project director of the International LNG Congress, gives her recommendations in the overview for our partner LNG Industry.
Due to high demand, the LNG market is growing. New players enter it and bring new innovations with them, changing outdated standards. Which trends will grow, and what should companies be aware of to be on top of the LNG business market?
In preparation for the anniversary of the 5th International LNG Congress, project director Natalya Kuznetsova highlights the main points that will influence the LNG industry over the next few years. To check the event program and celebration activities, click here.
LNG as a fuelWith health, safety and environment regulations getting stricter, companies are forced to apply on-board exhaust gas cleaning systems or switch to low sulfur fuel and biofuel. LNG is an inexpensive and environmentally friendly option providing emission reduction at least equivalent to those achieved by other methods. It is widespread: millions of tonnes of LNG are transported across the world by roads, railways, and vessels every year.
Although nowadays LNG shares in the world gas market generally account only for one third, some companies are already looking to increase this. For example, Sembcorp Marine, American Bureau of Shipping, and A*STAR’s Institute of High Performance Computing (IHPC) advance the adoption of LNG as fuel, and Skangas already supplies fuel for Gothia Tanker Alliance’s LNG-powered vessels. At the same time, Golar LNG is investing in Avenir LNG for future opportunities in the small scale LNG market.
You can read the full article at lngindustry.com