One alternative to heavy fuel oil has already been in use in the maritime industry for many years: LNG or liquefied natural gas. LNG occupies approximately 1/600th the volume of natural gas in its gaseous state, making it easier and more efficient to transport and store large quantities. LNG-fueled vessels were first developed during the 1930s as an even more fuel-efficient alternative to vessels powered by heavy fuel oil and soon became a popular option for long distance shipping. One advantage of natural gas is that it is found in abundant supply and produced all over the world, making it a particularly stable energy source. Primarily composed of methane (CH₄), LNG also has a lower carbon content compared to conventional heavy fuel oil, meaning a 20-30% reduction in CO₂ emissions when burned. LNG can likewise offer significant reductions in NOx and SOX emissions when compared to heavy fuel oil.
The adoption of LNG nevertheless presents certain challenges from a practical standpoint. First, LNG must be kept at low temperatures, meaning that specialized facilities and infrastructure are required for its storage and transport. In addition, limited LNG bunkering infrastructure in certain regions may hinder its adoption in certain areas and can require higher initial costs. Despite these challenges, large LNG-powered vessels such as container ships and bulk carriers have been built in recent years, with more and more prominent players in the shipping industry beginning to make use of them on a major scale. As future technological innovations and improvements in infrastructure help to minimize these challenges, the shift towards LNG as an alternative to heavy fuel oil is expected to gain increased momentum going forward.
