LNG Bunkering Market: Top Trends and Key Players Analysis Report

Technotrends31 Jan, 2023Business

LNG is an attractive alternative fuel for seagoing vessels and inland vessels, as liquefied natural gas emits fewer polluting substances. LNG is a potential substitute according to IMO emission prerequisites, owing to its negligible sulfur content and low production of NOx contrary to fuel oil and marine diesel oil. LNG is clean burning fuel coupled with financial points of interest on a calorific value basis among other fuels. The LNG bunkering market is anticipated to witness considerable growth during the forecast period, owing to factors such as IMO regulation on the sulfur content in marine fuel and an increase in gas exploration & production activities. However, the demand-supply gap for LNG bunkering is the key factor restraining the growth of the market in the upcoming years. On the contrary, an increase in attention and utilization of LNG as bunker fuel create opportunities for the key players in LNG bunkering financing.