Liquefied Natural Gas (LNG) is natural gas, consisting mainly of methane, which has been -162°C, converting it from a gaseous to a liquid form. This conversion, reduces its volume by approximately 600 times, allowing for easy transportation and storage.
LNG has been used as a marine fuel for decades, but has attracted increased attention over recent years, because it has proved to be an effective, practical, environmentally friendly and cost-effective solution.
Together with a good track record in safety and increasing availability, this makes LNG one of the best alternative fuels to reduce emissions by the shipping sector, and to fight climate change**.
LNG as marine fuel significantly reduces emissions from engine exhaust compared to conventional oil-based fuels. It enables ship operators to comply with the growingly stringent maritime emissions regulations.
Possible future ECAs
Natural gas is globally abundant and is considered as an available and affordable source of energy. Our industry expertise and our partners’ large LNG portfolios means that we have access to diverse LNG sources around the world, as well as terminal access provided by ENGIE and Mitsubishi Corporation.
Overall, the supply of LNG is expected to grow, with major projects expected in locations such as Australia and the US. Over the coming years, it’s expected that a peak in demand will increase investment further, making LNG more available, affordable and flexible, as a marine fuel.
LNG is an already proven solution for almost all types of vessels. Currently more than 80 vessels (excluding LNG carriers and inland waterway vessels) are running on LNG, and the same number will soon be converted.
* Subject to a review by IMO on fuel availability to be completed by 2018.