By Infinium Global Research Aug, 2020
LNG bunkering is the practice of providing liquefied natural
gas to a ship for its own consumption. LNG is a cleaner fuel than conventional
marine fuels, such as heavy fuel oil, marine diesel fuel, and marine gas fuels.
Stringent government laws to reduce
airborne marine emissions that include pollutants such as sulfur and nitrous
oxide along with shifting trends towards clean energy are the major factors
driving the growth of the LNG bunkering market. In addition, LNG fuel has low
sulfur content and needs comparatively less processing to meet the sulfur
content limits and hence it will require smaller and less expensive modifications
compared to conventional marine fuels. For instance, the regulation passed by
the International Maritime Organization (IMO) in 2012, that stated, ships must
reduce their sulfur content in fuel from 4.5% to 3.5%. However, higher capital
investments and poor bunkering infrastructure are the factors, anticipated to
restrain the growth of the LNG bunkering market during the forecast period.
The report on Global
LNG Bunkering Market covers segments such as product type and end user.
The report provides regional analysis covering geographies such as North
America, Europe, Asia-Pacific, Rest of the World. In this section, the key
trends and market size for each geography are provided over the period of
2016-2024. The report provides profiles of the companies in the global
Gazpromneft Marine Bunker Ltd, ENN Group, Eagle LNG Partners, Polskie LNG SA,
Harvey Gulf International Marine LLC, Korea Gas Corporation, Skangass AS, Royal
Dutch Shell PLC, and ENGIE.