Petroleum Minister Dharmendra Pradhan Flagged off First LNG Fueled Bus in Kerala

Growing utilization of Liquefied Natural Gas (LNG) as a fueled would positively influence the LNG Market Globally

India: Minister of Petroleum & Natural Gas, Shri Dharmendra Pradhan has flagged off the LNG fueled bus at Thiruvananthapuram. This LNG fueled bus is the joint effort of Petronet LNG Limited (PLL), Indian Oil Corporation Ltd and Tata Motors Ltd. Chart Industries, USA is the supplier of LNG fuel tank. The bus was brought to PLL Kochi LNG Terminal for LNG filling. The Kerala State Road Transport Corporation (KSRTC), which has a fleet of 6,000 buses, has already announced plans to use the natural gas-fueled vehicle.

TechSci Research depicts that initiative taken by the governments to promote LNG as a primary fuel for transportation segment would drive the demand for LNG across the globe. Growing focus on the expansion of gas pipeline infrastructure, rising demand for natural gas from downstream sectors, declining LNG prices coupled with implementation of favorable government policies is boosting demand for LNG in developing country like India, Pakistan etc. Increasing focus on the development of adequate support infrastructure in various developing as well as developed economies is expected to boost LNG demand in the coming years.

According to released report of TechSci Research “Global LNG Market Demand & Supply Analysis, By Region, By Country, By LNG Terminal, Competition Forecast and Opportunities, 2011-2025”, global LNG supply market is forecast to exhibit a CAGR of over 5% during 2016-2025, on account of rising demand for cleaner fuels; oversupply of LNG due to liquefaction capacity additions in Australia, US and Papua New Guinea; and declining prices of LNG over the last few years.