Fior Markets revealed study on Global LNG Bunkering Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024 which offers a deep scenario on the current state focusing on the major drivers and restraints for the key players. This report guides through various segments market with size status and forecast 2024.
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4) that has been converted to liquid form for ease of storage or transport.
LNG is an attractive fuel choice for many vessels because it exceeds the air quality standards set forth. It takes up about 1/600th the volume of natural gas in the gaseous state. It is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia.
The liquefaction process involves removal of certain components, such as dust, acid gases, helium, water, and heavy hydrocarbons, which could cause difficulty downstream. The natural gas is then condensed into a liquid at close to atmospheric pressure by cooling it to approximately −162 °C (−260 °F); maximum transport pressure is set at around 25 KPa (4 psi).
LNG Bunkering is a particular type of operation where LNG fuel is transferred from a given distribution source to a LNG fuelled ship. It involves the participation of different stakeholders, from the ship-side, LNG supplier, ports, safety personnel, administrations and policy makers. In this report, LNG bunkering only refers to LNG bunkering fuel.
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The International Maritime Organization has established regulations on the fuel sulphur content of ship fuels and set mandatory NOx emission limits for new-build engines. These regulations are implemented through the IMO’s International Convention for the Prevention of Pollution from Ships (MARPOL). In addition to these engine and fuel requirements, certain areas have also been designated as emission control areas where stricter emissions limits are enforced. Besides air quality measures the IMO is also introducing instruments to monitor and reduce GHG emissions from shipping.
The US EPA has implemented MARPOL Annex VI in its national legislation NOx and sulphur emission control areas The US EPA has also introduced a “Ports Initiative” to look at protecting human health, addressing climate change and supporting economic growth. The state of California has also adopted several state-specific regulations. The Clean Fuel Regulation for Ocean Going Vessels regulates the fuel sulphur content of ship fuels used by vessels within 24 nautical miles of the California coast. The At-Berth Regulation requires vessels to plug into shore power or use alternative controls to meet emission reduction requirements.
The European Union’s Fuel Sulphur Directive implements MARPOL Annex VI in EU legislation. Non-EU countries like Norway and Russia have likewise implemented Annex VI in national legislation. In addition, the EU is promoting the use of LNG as a ship fuel. To this end, an EU proposal on alternative fuel infrastructure aims to guarantee sufficient infrastructure in the form of LNG bunkering stations and terminals, while at the same time provide subsidies via the TEN-T fund to develop and further improve such infrastructure.
The worldwide market for LNG Bunkering is expected to grow at a CAGR of roughly 65.2% over the next five years, will reach 24400 million US$ in 2024, from 1200 million US$ in 2019.
This report focuses on the LNG Bunkering in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
In addition, it delivers market trends, industry drivers, challenges, opportunities, key company profiles and strategies of players such as Skangas, Shell (Gasnor), Statoil, Barents Naturgass, Engie, Bomin and Linde, Eni Norge, Harvey Gulf, Polskie LNG, Korea Gas Corp, Gaz Metro, .
This report examines market statistics giving consideration to an average production and consumption of the product coupled with the demand from the market. The report is helpful for the governments, commercials, residential and industrial consumers, as well as manufacturers, other stakeholders to organize strategies. It also includes technology source and R&D status of the foremost manufacturers in the LNG Bunkering market.
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