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  • Published In : Apr 2024
  • Code : CMI1085
  • Pages :104
  • Formats :
      Excel and PDF
  • Industry : Energy

Regional Analysis

LNG Bunkering Market Regional Insights

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The European region, comprising countries, such as Norway, the Netherlands, and Germany, currently dominates the global LNG bunkering market with 36.7% of the market share. With countries like Norway having a strong foothold in the shipping industry as well as being a leading producer and exporter of natural gas, the availability of LNG as a bunker fuel is high in the region. Major ports in European countries like Rotterdam and Hamburg have invested heavily in building LNG bunkering infrastructure like storage facilities and bunkering vessels. This has given a major boost to LNG bunkering activities and uptake by marine vessels calling at these ports. Ship owners and operators find it economical to bunker LNG in the region owing to competitive pricing and smooth refueling operations supported by robust port infrastructure and technical expertise.

The Asia Pacific region, especially countries like Indonesia, China, and Australia, is witnessing the fastest growth in the global LNG bunkering market. With stringent emissions norms coming into effect and focus on using cleaner fuels, ship owners in Asia are actively exploring the use of LNG. Furthermore, countries like Indonesia aim to position themselves as bunkering hubs to cater to the increasing maritime trade within the region. Ports in Indonesia are actively working to create an ecosystem to support LNG bunkering through the development of onshore and offshore facilities. Additionally, the availability of domestic natural gas reserves and growth of Indonesia's shipping sector is aiding the development of LNG bunkering. Countries like China and Australia are also making investments to set up small and mid-scale LNG bunkering infrastructure to cater to the regional demand and de-carbonize domestic shipping activities.

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