LNG Bunkering: Key challenges, and Latest News | Top Key Vendors Royal Dutch Shell Plc., Skangas, ENN Energy, Korea Gas Corporation, Prima LNG, Harvey Gulf International Marine LLC, Bomin Linde LNG GmbH & Co KG, Fjord Line, Crowley Maritime Corporation, a

Bunkering is a process of refueling the marine vessels, using pipelines that are connected to the terminal or a direct transfer of fuel from ships or trucks. Ease in transportation and storage of Liquefied Natural Gas (LNG) is expected to be a factor for increasing adoption of LNG bunkering. Its relatively low density and high heating value results in reduction of emission of harmful greenhouse gas.

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The major players in the global LNG bunkering market include Royal Dutch Shell Plc., Skangas, ENN Energy, Korea Gas Corporation, Prima LNG, Harvey Gulf International Marine LLC, Bomin Linde LNG GmbH & Co KG, Fjord Line, Crowley Maritime Corporation, and Polskie LNG.

Market Dynamics

LNG bunkering market is expected to exhibit significant growth over the forecast period (2017–2025). This is attributed to increasing number of vessels and ships using LNG, as it is a clean fuel. Governmental and non-governmental bodies are implementing stringent regulations on emission of harmful gases. For instance, The America Bureau of Shipping (ABS), incorporated a framework of risk assessment considering LNG leakage during bunkering, which includes, leaks from LNG pipes, pumps, tanks or hoses, inadvertent disconnection of hoses, overfilling vessel fuel tanks and external impact. This creates a conducive environment for growth of the LNG bunkering market. However, lack of infrastructure for fueling LNG across bunkering locations is one of the major factors hindering growth of global LNG bunkering market.

Europe was the largest market for LNG bunkering in 2016, owing to stringent government regulations on emission of harmful and increasing offshore oil and gas exploration and production activities. Asia Pacific is expected to project the fastest growth in the global LNG bunkering market during the forecast period, owing to the rising demand for energy and growing use of LNG as a marine fuel.

Asia Pacific is projected to be the fastest growing market for LNG bunkering, exhibiting a CAGR of 61.8% over the forecast period. This is attributed to growing production activities in this region coupled with increasing energy demand. According to International Energy Agency, demand for energy from Southeast Asia between 2000 and 2013 had increased by over 50%. Petronas Company invested US$ 1.16 billion for FLNG project in Malaysia with a capacity of 1.2 MTPA in 2016. Maritime and Port Authority of Singapore also announced funding of US$ 1.45 million for six vessels under a pilot program in 2017, to test procedures for operations and safety protocols for LNG bunkering. This is expected to drive growth of the market.

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