LNG Bunkering Industry to surpass $12bn by 2024:ENGIE,Polskie LNG,Eagle LNG, ENN Energy
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U.S. LNG bunkering market is predicted to exceed 3,000 kilotons by 2024 owing to the advent of shale gas. Increasing liquefaction plants has spurred the production of liquefied natural gas in the U.S. enabling its adoption as marine fuel. Strict government norms against emissions will further complement the business landscape. In 2015, the EPA implemented the MARPOL Annex VI norms with an aim to limit NOx in marine fuel oil to 0.5% from current levels.
Rising environmental concerns along with government initiatives towards adoption of natural gas as ship fuel will augment the LNG bunkering market. The EU introduced Climate and Energy Package 2020, with an aim to achieve 20% reduction in GHG emissions. In 2014, Trans-European Transport Network (TEN-T) announced funding of USD 138 million towards the development of seven bunkering stations across Western Europe.
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Chapter 4. LNG Bunkering Market, By Product
4.1. LNG bunkering market share by product, 2016 & 2024
4.2.1. Market estimates and forecast, 2014 - 2024
4.3.1. Market estimates and forecast, 2014 - 2024
4.4.1. Market estimates and forecast, 2014 – 2024
4.5. Portable Tanks
4.5.1. Market estimates and forecast, 2014 – 2024
Chapter 5. LNG Bunkering Market, By End-Use
5.1. LNG bunkering market share by end-use, 2016 & 2024
5.2. Container Vessels
5.2.1. Market estimates and forecast, 2014 - 2024
5.3.1. Market estimates and forecast, 2014 - 2024
5.4. Bulk Carriers
5.4.1. Market estimates and forecast, 2014 – 2024
5.5.1. Market estimates and forecast, 2014 – 2024
5.6. Offshore Support Vessels (OSVs)
5.6.1. Market estimates and forecast, 2014 – 2024
Shifting trends towards low-cost and eco-friendly marine fuel will drive the LNG bunkering market size. LNGe-380 is comparatively less expensive than IFO-380 fuel that help companies to recover the cost of retrofitting fleets. Positive outlook towards maritime trade along with rising investments toward the deployment of floating liquefied natural gas will further complement the industry outlook. In 2016, Petronas invested USD 1.16 billion for FLNG project in Malaysia with a capacity of 1.2 mtpa.
Container vessel is set to expand by over 40% through to 2024. Germany holds the largest container base in Europe with over 170 new builds container vessels orderbook. High speed transfer rate, location flexibility and ability to transfer large volume of gas will drive the ship-to-ship LNG bunkering market. Standard operation accounts for a transfer rate of 1,100 cu. m/ hr.
Increasing investment towards development of infrastructure along with government initiatives to encourage the natural gas adoption will positively impact Singapore LNG bunkering market. In 2017, Ministry of Port Authority of Singapore announced the funding of USD 1.45 million for six vessels under pilot programme.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Royal Dutch Shell plc
• Bomin Linde LNG GmbH & Co
• Skangass AS.
• Gasnor AS
• Korea Gas Corporation
• Harvey Gulf International Marine LLC
• Polskie LNG
• Eagle LNG
• ENN Energy
• EVOL LNG
• Fjord Line
• Crowley Maritime
• Prima LNG
Abundant availability of LNG along with measures to reduce carbon footprints will stimulate Qatar LNG bunkering market. Qatar will be the prime source for flexible liquefied natural gas supply with the capacity of 77.8 mtpa. In 2016, Qatargas, Shell and Maersk group signed a Memorandum of Understanding for developing LNG bunkering industry in Middle East.
Notable participants in LNG bunkering market include Skangas, Korea Gas, Crowley Maritime, Evol, Royal Dutch Shell, Engie, Harvey Gulf, Bomin Linde, ENN Energy, Prima LNG, Fjord Line and Polskie.
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