LNG Bunkering Market Soaring at 58.5% CAGR to 2023 | Skangas AS, Gasnor As, Statoil ASA, Barents Naturgass As, Engie SA, Bomin Linde LNG GmbH & Co. KG, Eni Norge AS, Harvey Gulf International Marine Llc.
LNG Bunkering Market by End-User (Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels and Others)-Global Opportunity Analysis and Industry Forecast, 2017-2023
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4) that has been converted to liquid form for ease of storage or transport.
LNG is an attractive fuel choice for many vessels because it exceeds the air quality standards set forth. It takes up about 1/600th the volume of natural gas in the gaseous state. It is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia.
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Companies Profiled in this report includes: Skangas AS, Gasnor As, Statoil ASA, Barents Naturgass As, Engie SA, Bomin Linde LNG GmbH & Co. KG, Eni Norge AS, Harvey Gulf International Marine Llc., Polskie LNG SA, Korea Gas Corp.
LNG Bunkering is a particular type of operation where LNG fuel is transferred from a given distribution source to a LNG fuelled ship. It involves the participation of different stakeholders, from the ship-side, LNG supplier, ports, safety personnel, administrations and policy makers. In this report, LNG bunkering only refers to LNG bunkering fuel.
The global LNG bunkering market was valued at $214 million in 2016, and is expected to reach $10,185 million by 2023, registering a CAGR of 58.5% from 2017 to 2023. Liquid Natural Gas (LNG) is an environment-friendly and commercially attractive fuel used in ships. LNG as a marine fuel has gained importance in the last few years due to the upcoming regulations on sulfur emissions. Technical solutions for LNG supply infrastructure and on-board storage and processing are available.
The International Maritime Organization’s regulations of sulfur cap of 0.50% m/m (mass/mass) in 2020 for marine fuels, increase in ocean-borne trade, especially in ton-km travelled, and lower cost of LNG bunker fuel than other variants of ECA-compliant fuels are the factors that drive the development of the global LNG bunkering market. However, demand-supply gap for LNG bunkering is expected to hamper the market growth. Moreover, development of LNG bunkering infrastructure and regulatory framework is expected to be a key challenge for the market.
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This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the LNG bunkering market.
In-depth analysis of LNG bunkering market is conducted and estimations for key segments between 2014 and 2022 are provided.
Comprehensive analysis of factors that drive and restrain the growth of the market are provided.
LNG bunkering market share for all segments with respect to each geography is detailed in the report.
Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the LNG bunkering industry trends.
Table of Content:
CHAPTER 1. INTRODUCTION
CHAPTER 2. EXECUTIVE SUMMARY
CHAPTER 3. MARKET OVERVIEW
CHAPTER 4. GLOBAL LNG BUNKERING MARKET, BY END USER
CHAPTER 5. GLOBAL LNG BUNKERING MARKET, BY GEOGRAPHY
CHAPTER 6. COMPANY PROFILES
6.1. BARENTS NATURGASS AS
6.2. BOMIN LINDE LNG GMBH & CO. KG
6.3. ENGIE SA
6.4. ENI NORGE AS
6.5. GASNOR AS
6.6. HARVEY GULF INTERNATIONAL MARINE LLC
6.7. KOREA GAS CORP
6.8. POLSKIE LNG SA
6.9. SKANGAS AS
6.10. STATOIL ASA
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