Petroleum Minister Dharmendra Pradhan Flagged off First LNG Fueled Bus in Kerala
Growing utilization
of Liquefied Natural Gas (LNG) as a fueled would positively influence the LNG Market Globally
India: Minister of Petroleum & Natural Gas, Shri
Dharmendra Pradhan has flagged off the LNG fueled bus at Thiruvananthapuram. This
LNG fueled bus is the joint effort of Petronet LNG Limited (PLL), Indian Oil
Corporation Ltd and Tata Motors Ltd. Chart Industries, USA is the supplier of
LNG fuel tank. The bus was brought to PLL Kochi LNG Terminal for LNG filling.
The Kerala State Road Transport Corporation (KSRTC), which has a fleet of 6,000
buses, has already announced plans to use the natural
gas-fueled vehicle.
TechSci Research depicts that initiative taken by
the governments to promote LNG as a primary fuel for transportation segment
would drive the demand for LNG across the globe. Growing focus on the expansion of gas pipeline infrastructure,
rising demand for natural gas from downstream sectors, declining LNG prices
coupled with implementation of favorable government policies is boosting demand
for LNG in developing country like India, Pakistan etc. Increasing focus on the
development of adequate support
infrastructure in various developing as well as developed economies is expected to boost LNG demand in the coming
years.
According to released report of TechSci
Research “Global LNG Market Demand & Supply
Analysis, By Region, By Country, By LNG Terminal, Competition Forecast and
Opportunities, 2011-2025”, global LNG supply market
is forecast to exhibit a CAGR of over 5% during 2016-2025, on account of rising
demand for cleaner fuels; oversupply of LNG due to liquefaction capacity
additions in Australia, US and Papua New Guinea; and declining prices of LNG
over the last few years.