The global LNG bunkering market is anticipated to grow at an exponential CAGR of 32.5% during the forecast period (2024-2031). As the demand for LNG is growing significantly on a global scale, major market players are focusing on capitalizing on this growth by increasing fleet capacity and collaborating with end-users for business expansion. For instance, in July 2023, Energy terminals developer and operator Klaipedos Nafta AB (KN) extended its collaboration with global energy company BP in the field of LNG. KN and BP Gas & Power Investments Ltd have recently signed a cooperation agreement to jointly develop a new LNG project in Latin America. This project aims to construct an LNG truck loading station at the Port of Açu, facilitating the delivery of gas to consumers not connected to the gas pipeline network in the southeast region of Brazil.
Browse the full report description of “LNG bunkering Market Size, Share & Trends Analysis Report by End-User (Tanker Fleet, Container Fleet, Bulk and General Cargo Fleet, Ferries, OSV, and Other End Users), by Type of LNG Transfer(Mobile-to-Ship, Shore-to-Ship, and Ship-to-Ship) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/lng-bunkering-market
The collaboration between BP and KN, as outlined in the agreement, involves a comprehensive assessment of the project's commercial viability. Additionally, the two companies will work together on various development phase tasks, with the ultimate goal of reaching a planned final investment decision by the fourth quarter of 2023.
Further, in July 2023, A team from state-run Indian Oil Corp. Ltd (IOCL) and Engineers India Ltd (EIL) announced a visit to Iraq. The country is planning to diversify its LNG supplies primarily to strengthen its energy security. The terminal will liquify some portion of the gas currently flared by Iraq and transport it to India, where it will be converted back to LNG for use in city gas distribution as well as power, fertilizer, and steel sectors.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Technique
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- BP PLC, Exxon Mobil Corp., Shell PLC,and TotalEnergies SE among others.
Key questions addressed by the report.
Global LNG Bunkering Market Report Segment
By Type
By Application
Global LNG Bunkering Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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