Explaining the coalition’s objective, Peter Keller, Chairman of SEA\LNG and Executive Vice President of TOTE Inc., said: “We recognise the need to work closely with key players across the value chain, including shipping companies, classification societies, ports, major LNG suppliers, downstream companies, infrastructure providers and OEMs (original equipment manufacturers) to ensure an understanding of the environmental and performance benefits of LNG as a marine transport fuel. SEA\LNG aims to address market barriers and help transform the use of LNG as a marine fuel into a global reality”.
“The ground work has been laid for LNG to thrive, but we need a cross-industry approach to realize the full potential of LNG fuelled shipping. Having been at the forefront of LNG fuelled shipping since its beginning, DNV GL is proud to work with innovative partners to help LNG take its place as a key fuel for the future,” said Tjerk-Johan de Vries, Region Manager West Europe & Africa at DNV GL.
The emissions reduction requirements which have come into force around the world are increasing demand for LNG as a shipping fuel. LNG offers significant environmental advantages over heavy fuel oil, the main fuel used in shipping today. It significantly reduces SOx, NOx and particulate emissions, and can also contribute to the reduction of greenhouse gas emissions. LNG is therefore able to offer a fuel solution compliant with both current and anticipated future regulations.
However, while LNG is a competitive fuel relative to current alternatives, LNG infrastructure is needed in ports around the world to enable quick, safe and cost effective bunkering. In parallel, there remains a price premium for LNG-fuelled vessels which can make investment decisions challenging. Furthermore, regulation is not yet globally consistent, which constrains incentives for investment in the sector. SEA\LNG aims to address and help overcome these and other challenges.
SEA\LNG is a not for profit collaborative industry foundation serving the needs of its member organizations. SEA\LNG is guided by a board which is led by Chairman Peter Keller, Executive Vice President, of TOTE Inc. Each member organization commits mutually agreed human resources, data analysis and knowledge sharing in support of SEA\LNG initiatives and activities and financially contributes via a membership fee. The SEA\LNG coalition was established by Xyntéo, an advisory body which works with global companies to identify and implement collaborative initiatives that enable businesses to grow in a new way, fit for the resource, climate and demographic realities of the 21st century.
For more information visit www.sea-lng.org and www.xynteo.com