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Lng As A Bunker Fuel Market | Growth Forecast To 2026

By Author: Suraj Suryavanshi
Total Articles: 15

Introduction:

Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). 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.

LNG as a Bunker Fuel Market Dynamics:

Low prices of LNG fuel then other conventional fuel are expected to drive the market growth over the forecast period. LNG is expected to be less costly than marine gas oil (MGO), which will be required to be used within the ECAs if no other technical measures are implemented to reduce the SOx emissions.

Current low LNG prices in Europe and the US suggest that a price – based on energy content – comparable to heavy fuel oil (HFO) seems possible, even when taking into account the small scale distribution of LNG as a bunker fuel.

Furthermore, major economies of the world are trying to lower the oil dependency which is expected to have positive impact on the LNG market. The US shale gas revolution has contributed significantly to advent of LNG as an alternative to oil as a global marine fuel. Australia, East Africa, Middle East, and Russia have relatively large reserves of LNG.

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List of Companies:

• Royal Dutch Shell Plc
• Gasum Oy
• Statoil ASA
• Barents Natural Gas AS
• The Linde Group
• ENGIE SA
• Korea Gas Corporation
• Kunlun Energy Company Ltd.
• Eni s.p.A
• CNOOC Limited
• Energize

Total Views: 66Word Count: 311See All articles From Author

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