Having worked in the maritime sector as a Shipping Consultant for almost a year, there have been many ‘hot’ topics of conversation. And one subject that keeps coming up is Liquefied Natural Gas (LNG).
What is all the fuss about?
Why is LNG such a big player in the shipping market? And why do so many international shipping organisations want to invest in LNG?
There are many positive benefits to LNG – not only in transporting it to use as a fuel but also using it as a marine fuel. I’m hearing about many shipping companies that are investing in new vessels that use LNG as a marine fuel not only within Europe, but in Asia and the US which is leading the way in one of shipping’s most promising new technologies.
When I speak with job hunters onboard these LNG vessels, they only have positive things to say about the development of LNG in the shipping market – and they’re keen to continue working within the sector. Many believe that LNG is the way forward in the shipping industry and this is something that I have come to believe myself.
Rules and regulations
New rules and regulations about how to reduce the impact we collectively have on the environment are hitting the press all the time. In that respect, I estimate the biggest positive to using LNG as a fuel is a massive reduction in damaging emissions. Being environmentally friendly isn’t something most of us consciously consider every day; we may not always think about the impact our daily commute may have on the environment or our holiday flights. The fact that LNG could significantly reduce the impact we have on the environment can only be a positive in my opinion.
Whilst LNG is available in abundance right now, many shipping companies are keen to get a slice of the action, which in turn means LNG consumption will continue to increase rapidly.
And this begs the question ‘How long will LNG last and what will happen when it runs out?’