Engie Zeebrugge Completes First LNG Bunkering Vessel of the World

The development of LNG infrastructure would provide a big thrust to small scale LNG market

Belgium: A 5000-cbm LNG bunkering vessel, which happens to be the world’s first LNG bunkering vessel, has been completed by Engie Zeebrugge. The vessel was built by Hanjin Heavy at Busan shipyard, Korea and the operation started few days after the arrival of vessel to Zeebrugge port. The vessel would supply marine fuel to the ships operating in Northern Europe. First customer for Engie Zeebruge will be wo LNG-fueled pure car and truck carriers operated by United European Car Carriers. The technological development pertaining to LNG infrastructure would promulgate the market for small scale LNG business in near future.

TechSci Research depicts increasing exploration & production activities, favorable government policies supporting the adoption of LNG and growing demand from remote areas are some of the major factors anticipated to aid the global small scale LNG market during 2016 – 2021. Moreover, drop in natural gas prices and fluctuations in crude oil prices are further expected to encourage customers across the globe to opt for small scale LNG over diesel, furnace oil or coal in the coming years. Advanced economies of the world have implemented strict emission norms that regulate the harmful emission levels of diesel as a fuel.

According to released report by TechSci Research, “Global Small Scale LNG (SSLNG) Market” By Application, By Mode of Supply, Competition Forecast & Opportunities, 2011 – 2021, the global small scale LNG market is anticipated to cross $47 billion by 2021. Globally, growing demand for SSLNG from remote areas, especially for power generation, is one of the major factors driving the global market of small scale LNG. Other factors such as increasing inclination towards greener and cleaner fuel coupled with low prices of natural gas are also aiding global small scale LNG market. Increase in spot market purchase is expected to keep LNG prices under check in Asia-Pacific and Europe.