SEA\LNG: Why LNG represents a bridge of pragmatism on shipping's road to decarbonisation
Shipping in the invisible backbone of the global economy - accounting for approximately 90% of international trade - and is the most energy efficient way of moving goods. However there is growing pressure on the industry from governments and regulators, as well as changing expectations from customers and society at large, to contribute to meeting the 2°C and 1.5°C goals of the Paris climate accord. The challenge the industry faces is making the right investment decisions now to enable it to comply both with short-term local emissions regulations e.g. the IMO 2020 sulphur cap, and the long-term climate legislation under consideration by the IMO, while remaining economically competitive.
For further information please see "SEA\LNG: Why LNG offers a bridge of pragmatism on shipping's road to decarbonisation”, which outlines in detail how LNG as a marine fuel offers unrivalled potential as a bridging solution for achieving shipping’s short and long-term energy transition goals, with immediate local and GHG emissions benefits, compared to existing alternatives and other unproven technologies.
SEA\LNG: One year on – thoughts and reflections
For LNG to play a significant role as a marine fuel, it requires collaboration across the entire marine LNG value chain. We are proud that our members have been at the forefront of industry developments during 2017, which will continue through 2018 and the years ahead. As recognition of LNG as a viable, sustainable marine fuel gathers momentum, we anticipate the coalition will continue to expand with the addition of major shipping lines, bunkering companies, and ports from across the globe expected in the coming year.
For further information please see "SEA\LNG: One year on – thoughts and reflections,” which outlines in detail why LNG provides an essential solution for the long term, more detail on addressing the key barriers to uptake, and how SEA\LNG will work towards an effective global LNG value chain for cleaner maritime shipping.
SEA\LNG: Accelerating the adoption of LNG as a marine fuel
Ship owners, fuel suppliers, and other associated supply chain stakeholders will need to make major investments to comply with existing and forthcoming environmental regulations. By addressing the core issue; the fuel itself, LNG provides a viable solution for the long term. However, barriers need to be better understood and overcome if LNG is to reach its full potential.
These barriers include LNG infrastructure and market maturity; the lack of understanding of LNG’s benefits among end users, investors, governments and civil society; capital expenditure (capex) premiums for vessels and bunkering infrastructure; and fragmented and evolving regulations.
For further information please see "SEA\LNG: Accelerating the adoption of LNG as a marine fuel”.
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