LNG Bunkering Market is expected to reach the volume of 432.16 Million Tons by 2031

Category: Business

LNG has been used as bunker fuel for many decades. Various ships have been adopting LNG as an alternative fuel for shipping. New-build ships are also increasingly using LNG as fuel. Infrastructure for LNG bunkering is rapidly developing, and the fuel is currently available in most of the major maritime hubs. The potential benefits of LNG bunker fuel are projected to boost the preference for LNG to replace oil as a maritime fuel. Rise in usage of LNG as a bunkering fuel and growth in orders for new LNG fueled ships are driving the development of LNG manufacturing and storage facilities. Member countries of the Gas Exporting Countries Forum (GECF) have a competitive edge and the potential to become international LNG bunkering centers.