How does the Middle East crisis impact LNG shipping fuel outlook? | LNG | gasworld
© NYK Lines / dual fuel LNG truck carrier
The shipping industry has been under pressure for some time – long before the current crisis in the Strait of Hormuz.
Decarbonisation policy pressures have been the principal driver, with International Maritime Organisation regulations on NOx and SOx emissions forcing operators to embrace ‘green’ fuels and reduce harmful greenhouse gas emissions.
This has lead to a huge push behind liquefied natural gas, which is seen as a bridging fuel between diesel and renewables. The industry likes to push it as ‘green’ as it emits less CO2 and sulfur when burned; but it is a fossil fuel that releases methane.
The onset of the Middle East crisis has presented new commercial and sustainable dynamics.
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