Dutch gas provider Titan LNG believes shipping reached a tipping point in terms of gas bunkering in 2017. According to data from the Amsterdam-headquartered firm, 11% of all newbuild contracts last year were for LNG-powered vessels.
“The order book for LNG-powered ships grew substantially, the LNG bunkering infrastructure is maturing and the pricing of LNG has become structurally competitive versus MGO,” Titan LNG stated in a release.
Titan LNG said in the release that it believes scrubbers are only a temporary solution and that LNG fuelled ships, combined with power-to-gas or biogas offer a credible and cost competitive path to decarbonisation and improved air quality.
“We are confident that overcoming the barriers to scaling up LNG as a transportation fuel is worth it and we stand by our mission to help eradicate oil burn,” Titan LNG concluded.
