LNG Bunkering Market

The global LNG Bunkering Market is valued at USD 0.58 Billion in 2020 and is expected to reach USD 6.97 Billion by 2027 with a CAGR of 42.5% over the forecast period.

Global LNG Bunkering Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2029- Increasing IMO regulations on sulfur content in the marine fuel and strict government regulation to reduce carbon footprints are driving the growth of the Global LNG Bunkering Market

Scope:

Liquefied natural gas (LNG) is a fuel gas that has been changed over to liquid form for simplicity of storage or transport. It is colorless, odorless, non-corrosive, and non-toxic. Bunkering is the providing of fuel for use by ships and incorporates the shipboard coordination of loading fuel and delivering it among accessible bunker tanks. Bunker is usually applied to the capacity of petroleum-based commodities in tanks and the training and business of refueling ships.

Bunkering tasks are placed at seaports. They integrate the storage space of ship fuels and the provision of the fuel to vessels. LNG Bunkering is the act of giving liquefied natural gas fuel to a boat for its own utilization. LNG bunkering foundation can be utilized to supply zero-carbon fuels in the form of liquefied biomethane (LBM) or liquefied synthetic methane (LSM), with practically no modification, so empowering the progress to a decarbonized shipping industry.

LNG bunkering ports and fortification vessels can be established on SEA-LNG's Bunker Navigator. The key benefit of LNG as a fuel is the tremendous decrease in pollutants caused by the more conventional technique for fueling boats, for example, heavy fuel oil, marine gas oil (MGO), and marine diesel fuel (MDO). The LNG bunkering between shore to ship or ship to ship is finished by utilizing a QC/DC coupling. QCDC represents a speedy connect disconnect.

The COVID-19 pandemic has also impacted the growth of global bunkering industry. During the COVID-19 pandemic, lockdown forced by various government organizations has also brought prohibition on the import and export. Hence, the pandemic disturbed the supply network and hampered the LNG bunkering market development. However, the market is relied upon to grow over post-pandemic as the demand for LNG as bunker fuel from the oceanic transport and shipping industry increments.

Global LNG bunkering market is segmented on the basis of type, application and region & country level. On the basis of type, the LNG bunkering market is classified into truck-to-ship, ship-to-ship, port-to-ship and others. On the basis of application, the market is classified into tanker vessels, container vessels, ferries & OSV, bulk & general cargo vessels and others.

Key Players:

Global LNG bunkering market reports cover prominent players like -

• Broadview Energy Solutions B.V.
• Gasum Oy
• Klaw LNG
• Polskie LNG S.A.
• Crowley Maritime Corporation
• SHV Energy
• Total SE
• Harvey Gulf International Marine
• Royal Dutch Shell Plc
• PETRONAS
• Exxon Mobil Corporation
• Gazprom Neft
• Korea Gas Corporation
• Eagle LNG Partners
• ENN Group
• Skangas
• Gasnor AS
• Prima LNG
• Others

Segmentation:

By Type:

• Truck-to-Ship
• Ship-to-Ship
• Port-to-Ship
• Others

By Application:

• Tanker Vessels
• Container Vessels
• Ferries & OSV
• Bulk & General Cargo Vessels
• Others

The regions covered in global LNG bunkering market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global LNG bunkering market is sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Increasing IMO Regulations on Sulfur Content in the Marine Fuel and Strict Government Regulation to Reduce Carbon Footprints are Some of the Major Factors Driving the Growth of Global LNG Bunkering Market

One of the major factors driving the growth of the global LNG bunkering market is increasing IMO regulations on sulfur content in marine fuel. To follow the IMO guidelines, fleet proprietors are proceeding to utilize high sulfur fuel oil (HSFO) by retrofitting vessels with scrubbers (least expense arrangement) or changing to the utilization of low-sulfur fuel oils (VLSFO) or utilizing fuels, like LNG among others. For instance; from January 2020, United Nations delivering office the International Maritime Organization (IMO) will prohibit ships from utilizing fuels with sulfur content above 0.5%, contrasted and 3.5% at this point. The guidelines are pointed towards working on human wellbeing by decreasing air contamination.

In addition, strict government regulation to reduce carbon footprints is also fostering the market growth. Stringent government laws in different nations across the globe to lessen chemical emissions of dangerous gases are also expected to fuel the market development. The Canadian government has made responsibilities for a huge decrease in greenhouse gases emissions, and the nation has an abundant supply of flammable gas. Also, natural gas on ignition produces less measure of greenhouse gases, making LNG a superior elective alternative fuel for the Canadian delivery industry.

For example; The America Bureau of Shipping (ABS) fostered a structure of risk assessment considering LNG spillage during bunkering, which incorporates spills from LNG pumps, pipes, tanks, hoses, stuffing vessel gas tanks, and outer effect. Thus, it also expected to establish an appropriate environment for the development of LNG bunkering market.

However, the demand-supply gap for LNG bunkering may hamper the global LNG bunkering market growth. In spite of that, rising focus toward LNG as an alternative marine fuel can provide various opportunities for the further growth of the global LNG bunkering market.

North America is Expected to Dominate the Global LNG Bunkering Market

North America is expected to dominate the global LNG bunkering market during the forecast period due to rising LNG demand to reduce carbon footprint in the shipping industry and stringent government regulations in this region. New laws in North America confining sulfur emissions from boats will expand transportation markets considerably further. LNG can help customers satisfy the new regulatory standards by containing almost no sulfur and particles like NOX. The business has been putting resources into the Lower Mainland and the Port of Vancouver to bunker oceangoing boats with LNG.

For instance; according to the federal government's department of natural resources, maritime shipping gets a significant part of the consideration with regards to LNG as a transportation fuel, it just records for around 2% of Canada's generally speaking GHG discharges.

Europe is projected to capture a significant revenue share in the global LNG bunkering market due to the increasing adoption of various strategies such as launch, acquisition and collaborations to utilize LNG for transportation. For example; Total signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe.

News: 

JAX LNG And TOTE Complete First Renewable LNG Bunkering In U.S.

On September 27^th, 2021; JAX LNG completed the main filling of a marine vessel in the U.S. with a merge of renewable liquefied natural gas (RLNG) and liquefied natural gas (LNG). The Clean Jacksonville is America's first LNG bunkering vessel. Component markets provided the renewable petroleum gas (RNG) utilized to create the RLNG through renewable thermal certificates (RTCs). Delivered from the decomposition of natural waste, RNG is viable with existing natural gas framework, giving a practical and replicable source of energy that mitigates and repurposes fossil fuel byproducts.

For this bunkering, renewable thermal certificates were synchronized to the actual LNG loaded into the Clean Jacksonville to formulate the RLNG/LNG blended item.

On Special Requirement LNG Bunkering Market Report is also available for the below Regions and Country:

• North America

  • U.S.
  • Canada

• Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

• Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

• Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

• Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2020:	USD 0.58 Billion
Base year considered	2020
Forecast Period CAGR %:	42.5%
Market Size Expected in 2027:	USD 6.97 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Broadview Energy Solutions B.V., Gasum Oy, Klaw LNG, Polskie LNG S.A., Crowley Maritime Corporation, SHV Energy, Total SE, Harvey Gulf International Marine, Royal Dutch Shell Plc, PETRONAS, Exxon Mobil Corporation,  Gazprom Neft, Korea Gas Corporation, Eagle LNG Partners, ENN Group, Skangas , Gasnor AS, Prima LNG, Others.
Segments Covered	By Type, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa