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Why wait when you can go LNG?

Peter Keller, SEA-LNG Chairman outlines year ahead for LNG shipping in 2021 and the fundamental binary decarbonisation choice facing owners

 

Peter Keller, Chairman of SEA-LNG, the multi-sector industry coalition advocating for LNG as a marine fuel throughout the entire value chain, has outlined the fundamental binary choice facing newbuilds in 2021, as decarbonisation forces a choice between using LNG now, or retrofitting later.

The report outlines how LNG as a marine fuel has moved from being a niche option to a mainstream fuel of the future. Instead of avoiding making a decision and waiting for technologies to develop in the future, LNG enables ship owners to reduce emissions now while protecting the future.

According to SEA-LNG, bio-LNG is a “prime pathway to carbon neutrality”, and its gradual introduction alongside synthetic LNG will incrementally decarbonise shipping towards the IMO’s 2050 targets.

As there is likely to be a basket of future marine fuels, comparison on a level playing field is critical. The report notes the need for lifecycle analysis with current data taking actual operational environments into account, and working with seafarers, ports and port communities is essential. Specifically, the industry must make decisions on future fuels on a well-to-wake basis, looking at total emissions throughout the lifecycle of a fuel.

Waiting is not an option for getting to zero. Going LNG represents a positive step down the decarbonisation pathway to carbon neutrality in marine fuels.

Relative Well-to-Wake GHG emissions vs LSFO graphic
Poseidon Principles preferencial rates graphic
To read the full report, please click here.

This article is shared by courtesy of SEA-LNG.

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