Demand for LNG as Marine Fuel Expected to Double
Demand for liquefied natural gas (LNG) as a marine fuel is expected to at least double by 2030.
According to consultancy firm Rystad Energy, Singapore—currently the largest bunkering hub—led global LNG bunkering activity in the third quarter, followed by China and the Netherlands. Singapore is planning to issue additional bunkering licenses.
Jo Friedmann, Senior Vice President of Supply Chain Research at Rystad Energy, stated that global LNG bunkering volumes could exceed 4 million tonnes by the end of 2025 and potentially double by 2030.
French energy giant TotalEnergies anticipates global demand for LNG and bio-LNG bunkering to reach 15 million tonnes by 2030.
Tuomas Maljanen from shipbroker Fearnleys commented, “Owners will ultimately choose the fuel that offers the lowest cost. LNG is great because the infrastructure is already in place. It’s readily available. Hopefully, in the future, it will also be quite cheap.
