Drivers and Enablers of LNG Bunkering

Abstract

The objective of this chapter is to provide an overview of the critical elements which currently drive the adaptation, implementation and prospective expansion of the use of LNG as a marine fuel. These drivers are primarily of environmental, social and business nature. IMO 2020 and the ever more stringent environmental standards imposed on shipping have placed LNG bunkering well into the radar of shipowners. At the same time, current and medium-term competitive LNG prices enable an attractive value proposition for LNG bunkering. There is an admirably wide spectrum of vessel segments which have already made a switch to LNG. Nevertheless, there are operational considerations that any shipowner needs to consider before choosing the optimal LNG bunkering supply chain and, of course, ahead of deciding to switch to LNG.