Global gas demand from transport sector could grow to over 160bcm

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One of the best ways for shipping lines to get round the forthcoming ban on high-sulphur marine fuels is to switch to Liquefied Natural Gas (LNG). As a fuel it’s virtually emission-free, but its widespread adoption has been hitherto inhibited by its being more costly than the heavy fuel oil that vessels burn while on the ocean; as well as the extremely limited number of bunkering facilities. Both are being addressed – oil is simply getting more expensive, and distillate diesel is likely to rocket in price when the new regulations come into force at the beginning of next year; and in anticipation of that more investment is going into LNG refuelling facilities.