The Key Takeaways from the 2017 Event
- Environmental, and thus regulatory factors continue to be the biggest drivers for the adoption of LNG as a marine fuel
- 2020 – 2030 will be a key period for the adoption of LNG as a marine fuel. We will be seeing the direct effect of the IMO’s 0.5% sulpher cap regulation (which has already resulted in an influx of new LNG vessels on order) coupled with a huge amount of LNG being put into the market, these two factors will have a massive push in driving the industry forward
- It is also becoming clear that LNG is not the only solution as we move into a marine world of no Heavy Fuel Oil. We are going to see a mix of alternative fuels coming on stream, but there was a general acceptance that LNG would make up a large portion of the alternative fuels in use as is the best of the bunch and will make up the lions share of the alternative fuels percentage
- Technology will continue to play a huge role in the adoption of LNG as a marine fuel, in a ‘lower for longer’ energy price world, innovation and efficiency is growing in importance and we’re seeing a lot of new technologies which are making LNG adoption much more viable as a solution
- The theme of the day was “mind-set change”, particularly from the top of the larger companies, and the continued need for genuine collaboration across the value chain
- This was tackled in the Connect2LNG Panel Discussion which featured speakers from Unilever, Vos Logistics, Chep, Engie and Iveco. Clear feeling that ‘buy in’ at the board level is highly important when dealing with the direction companies will go in terms of environmental footprint
- A feeling that it was easier for larger companies to convert, and more needs to be done to incentivise (and create a good price point) for the smaller players to do the same
- Adoption for LNG in heavy duty vehicles is not developing as quickly as we would like, but the value chain are working together and know what is needed to make it happen. Scaling up quicker would have a huge impact on the economics
2017 Executive Summary
Last years Summit was a huge success and welcomed the movers and shakers of the LNG Fuels industry to network and discuss the most pressing matters in the LNG fuels sector.
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For more information on how to get involved in 2018, please contact Tyler Forbes on firstname.lastname@example.org or call +44 20 7978 0061