Which is the cheapest sustainable marine fuel?
A study commissioned by SEA-LNG, a UK-based industry foundation, has found that liquified bio-methane (bio-LNG) offers real opportunities for maritime decarbonisation.
Conducted at the Nanyang Technological University (NTU Singapore), the study points out that bio-LNG can be blended with fossil LNG in relatively small amounts to reach the 2030 International Maritime Organisation targets and the biofuel proportion in the mix can be increased to meet 2050 targets.
Pure bio-LNG could cover up to 3% of the total energy demand for shipping fuels in 2030 and 13% in 2050. If it is considered as a drop-in fuel blended with fossil LNG, bio-LNG could cover up to 16% and 63% of the total energy demand in 2030 and 2050, respectively, assuming a 20% blending ratio.
In the long term, shipowners who have invested in the LNG pathway will need to shift to renewable synthetic LNG (e-LNG).
In addition, the report also forecasts that the average cost for delivered bio-LNG will fall by 30% by 2050 compared to today’s values, making bio-LNGone of the cheapest sustainable biofuels that can offer cost advantaged compared to electrofuels by 2050. (sh)