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The International Gas Union calculated an increase in trade in Liquefied Natural Gas (LNG) worldwide of 5% (2017 World LNG Report). The worldwide trade reached a record of 258 million tons. That is good news for the earth, because the same IGU’s reported earlier (Enabling Clean Marine Transport) the vast impact switching to LNG fuel can have on emissions generated by shipping. One tanker on 3% bunker fuel produces as much in emissions as 50 million diesel fueled cars. The increase provides the market for momentum to invest in LNG on a larger scale.
If the increase in demanded volumes of LNG will be a longer term development, the market continues to be very dynamic. The transition to LNG as marine fuel is still challenging. Shipping companies and asset owners face complicated decisions with large financial consequences when making the transition happening. But the development towards LNG is evident. 31 newly build ships on LNG in 2016 may be the signing on the wall for further and probably faster transition. So more investments in the market should be well suited. For Tebodin, the consequences of these projections are clear: Building solutions need to be more standardized and flexible allowing for easy deployment in a growing market.
Modular LNG solution
The dynamics in the market are a fact that demand flexible engineering solutions. Tebodin is very experienced in the design of LNG plant and equipment and it’s LNG engineering center has developed a modular LNG bunkering solution. This modular bunkering solution can also be adapted to meet other LNG demands such as truck fueling, regas for industrial users, truck loading and LCNG. But that’s not all these modules coupled with the ability to increase storage and send out capacity answer much of the flexibility demand required in today’s LNG market.
For users or potential users of LNG as a fuel for shipping, the business case is getting more and more interesting. The increase in volume requirements predicts further growth. Further investments in this market are needed, and the predictions validate the business case. Tebodin can offer the much needed flexibility and partnership to meet the market needs .