LNG bunkering is defined as the practice of supplying LNG fuel to ship for its constructions. LNG is cleaner than other conventional fuels like heavy fuel oil, marine gas fuel, and marine diesel fuel. The increase in concerns about air pollution, stringent rules and regulations on chemical emissions as a result of fuel burning and growth of marine sector are expected to drive the global LNG bunkering market growth.
The shifting trends towards clean energy with stringent government rules and regulations to reduce airborne emissions including nitrous oxide, and sulphur is key driving factor which is expected to boost the global LNG bunkering market growth. Furthermore, shifting trends towards sustainable fuel with increase in shale production will positively contribute the market growth in near future. For instance, United State Shale gas production reached from 13,447 bcf in 2015 and 15,213 in 2016. Also, riser in demand for reliable, eco-friendly, and low cost marine fuel is another driving factor which is expected to propel the global LNG bunkering market growth. The marine industry of North America and Europe is expected to move toward cleaner LNG fuel faster than the other regions. And hence, it is expected to fuel the market growth during this forecast period.
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However, a high initial investment is the major challenging factor which is expected to hamper the global LNG bunkering market growth during this analysis period.
Global LNG Bunkering Market is segmented into end user such as Tanker Fleet, Bulk & General Cargo, Offshore Vessels & Ferries, and Others. Also, Global LNG Bunkering Market is segmented into is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Gasnor As, Skangas AS, Statoil ASA, Engie SA, Barents Naturgass As, Eni Norge AS, Bomin Linde LNG GmbH & Co. KG, Harvey Gulf International Marine Llc, Korea Gas Corp, and Polskie LNG SA.
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