STUDY: LNG TO BE 10 PERCENT OF MARINE BUNKER MARKET BY 2030

A new Wood Mackenzie study finds that worldwide demand for LNG for shipping will represent 10 percent of the overall bunker market by 2030. Overall, the use of natural gas for transportation is predicted to quadruple to 5.5 Tcf per year by that year. “Gas has traditionally played a niche role in global transport but it is now garnering greater attention due to two principal drivers,” said Noel Tomnay, head of global gas research for Wood Mackenzie. “First, oil and gas price differentials are now making investment in gas refueling infrastructure worthwhile and second, increased environmental restrictions on emissions are encouraging wider global uptake.”