Engie Zeebrugge Completes First LNG Bunkering Vessel of the World
The development of
LNG infrastructure would provide a big thrust to small scale LNG market
Belgium: A 5000-cbm LNG bunkering vessel, which
happens to be the world’s first LNG bunkering vessel, has been completed by
Engie Zeebrugge. The vessel was built by Hanjin Heavy at Busan shipyard, Korea
and the operation started few days after the arrival of vessel to Zeebrugge
port. The vessel would supply marine fuel to the ships operating in Northern
Europe. First customer for Engie Zeebruge will be wo LNG-fueled pure car and
truck carriers operated by United European Car Carriers. The technological
development pertaining to LNG infrastructure would promulgate the market for
small scale LNG business in near future.
TechSci Research depicts increasing exploration
& production activities, favorable government policies supporting the
adoption of LNG and growing demand from remote areas are some of the major
factors anticipated to aid the global small scale LNG market during 2016 –
2021. Moreover, drop in natural gas prices and fluctuations in crude oil prices
are further expected to encourage customers across the globe to opt for small
scale LNG over diesel, furnace oil or coal in the coming years. Advanced
economies of the world have implemented strict emission norms that regulate the
harmful emission levels of diesel as a fuel.
According to released report by TechSci Research, “Global Small Scale LNG (SSLNG) Market” By Application, By Mode
of Supply, Competition Forecast & Opportunities, 2011 – 2021, the global small scale LNG market is anticipated to cross $47 billion by
2021. Globally, growing demand for SSLNG from remote areas, especially for
power generation, is one of the major factors driving the global market of
small scale LNG. Other factors such as increasing inclination towards greener
and cleaner fuel coupled with low prices of natural gas are also aiding global
small scale LNG market. Increase in spot market purchase is expected to keep
LNG prices under check in Asia-Pacific and Europe.