Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



LNG-fueled tankers to more than double by 2030

The number of ships fueled by LNG are expected to more than double by 2030, driven by the shipping industry's desire to cut emissions, a senior executive at Malaysia's Petroliam Nasional Bhd (Petronas) said.

Currently, less than 400 out of a total of more than 80,000 registered ships, run on LNG as fuel source. This number could increase to 1,000 vessels globally by 2030, said Mohd Rafe Mohamed Ramli, head of global LNG bunkering at Petronas Marine.

The shipping industry has been under pressure to reduce carbon emissions, after also introducing new rules this year to cut the sulfur content in marine fuels, also known as bunker fuels. This in turn is prompting demand for LNG as a bunker fuel by tanker operators and cruise liners.

While Europe is the main consumption region for LNG as a bunker fuel, demand in Singapore and Malaysia, already global oil bunker fuel hubs, is also expected to increase, Ramli said during the virtual Platts APPEC 2020 conference.

"Malaysia and Singapore share the same marine traffic. There are more than 80,000 transits in the Malacca Strait alone every year, so this is a huge market to serve," he said, referring to the waterway between Malaysia and the Indonesian island of Sumatra that is a key shipping lane.

As LNG production capacity builds globally, the availability of the super-chilled fuel will continue to keep prices low and competitive against other fuels, he said.

Petronas plans to use the tanker Avenir Advantage to provide LNG bunkering services in Malaysia once the ship completes its final commissioning exercise in China.

Petronas has been exploring ways to promote LNG as a marine fuel at a time when spot prices have been depressed by new capacity from the United States and Australia. Malaysia is the world's fourth-largest LNG exporter.

(Reporting by Jessica Jaganathan; Editing by Christian Schmollinger)


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment: China eyes continued expansion of smaller-scale LNG
-Adrienne Blume
Smaller-scale liquefaction in China, the world’s second-largest LNG importer, has experienced growth in recent years as China’s government integrates more gas into the country’s energy matrix.
Executive Q&A Viewpoint: SeaOne expands South American energy options with Compressed Gas Liquid technology
-Bruce Hall
SeaOne is a midstream infrastructure and logistics company that leverages its patented Compressed Gas Liquid (CGL™) technology to lower energy costs in various markets, generating new opportunities for economic growth and environmental stewardship.


The quest for plant availability: Achieving improved compressor reliability and efficiency in downstream operations

Register Now

Plants in the downstream industry require a great degree of operational availability, equipment reliability and efficiency: These factors are crucial for end users, as thousands of complex and intricate processes are operating in parallel – many of them are driven and safeguarded by compression technologies.

Uniformly, reliability is a universal maxim, and this holds particularly true for handling and compressing challenging gases processed in such plants. In fact, there is a direct, vital link between the reliability of compressor equipment designed for and used in these processes and the availability of the plant.

With a focus on different chemical/petrochemical, syngas and LNG applications our speaker Ulrich Schmitz will introduce to the listeners how centrifugal compression technologies such as integrally geared can be designed and employed reliably to perform the key process challenges of the industry, while also contributing to an efficient operation.

September 24, 2020 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2020 Gulf Publishing Holdings LLC.