The LNG bunkering market has been growing rapidly in recent years due to the increasing demand for cleaner fuel options in the shipping industry. This growth is driven by regulations aimed at reducing greenhouse gas emissions and sulfur content in marine fuels. The market is also supported by the development of LNG infrastructure, such as terminals and bunkering vessels, which are necessary to support the supply chain for LNG bunkering. However, the high capital cost of infrastructure development and the limited availability of LNG bunkering facilities in certain regions are some of the key challenges to the market's growth. Additionally, the COVID-19 pandemic has impacted the market's growth due to reduced demand for maritime transportation. Nevertheless, the long-term prospects for the LNG bunkering market remain positive as the shipping industry continues to transition to cleaner fuel options.
Global LNG Bunkering Market was valued at US$ 592.84 Million in 2021 in terms of revenue, exhibiting a CAGR of 35.26% during the forecast period (2022 to 2030).
Market Leaders in the LNG Bunkering Industry:
1. Royal Dutch Shell Plc
Royal Dutch Shell Plc is a British-Dutch multinational oil and gas company founded in 1907. Its headquarters are located in The Hague, Netherlands, and London, United Kingdom. Shell operates in more than 70 countries worldwide, providing oil and gas exploration, production, refining, and marketing services. In February, 2023 Shell Petroleum NV, a wholly owned subsidiary of Shell plc (Shell), has completed the acquisition of 100% of the shares of Nature Energy Biogas A/S (Nature Energy).
2. Skangas
Skangas is a Norwegian liquefied natural gas (LNG) supplier founded in 2014. Its headquarters are located in Oslo, Norway. Skangas operates in Norway, Sweden, and Finland, providing LNG production, storage, and distribution services to industrial, marine, and transportation sectors.
3. ENN Energy
ENN Energy is a Chinese energy company founded in 1992. Its headquarters are located in Langfang, China. ENN Energy operates in more than 150 cities in China, providing natural gas distribution, LNG production, and related services.
4. Korea Gas Corporation
Korea Gas Corporation (KOGAS) is a South Korean state-owned natural gas company founded in 1983. Its headquarters are located in Seoul, South Korea. KOGAS operates in South Korea and overseas, providing natural gas production, transportation, and distribution services. In 2021, the company signed a memorandum of understanding with the Port of Busan to promote the use of LNG as a marine fuel.
5. Prima LNG
Prima LNG is an Indonesian LNG supplier founded in 2012. Its headquarters are located in Jakarta, Indonesia. Prima LNG operates in Indonesia, providing LNG production, storage, and transportation services to power plants, industries, and transportation sectors. In November, 2022 SHV Energy has expanded its cryogenic LPG storage terminal facility in Tuticorin, India.
6. Harvey Gulf International Marine LLC
Harvey Gulf International Marine LLC is a US-based marine transportation company founded in 1955. Its headquarters are located in New Orleans, Louisiana, USA. Harvey Gulf operates in the Gulf of Mexico and other regions, providing marine transportation services to the oil and gas industry, including LNG transportation services.
7. Bomin Linde LNG GmbH & Co KG
Bomin Linde LNG GmbH & Co KG is a German LNG supplier founded in 2016. Its headquarters are located in Hamburg, Germany. Bomin Linde LNG operates in Europe, providing LNG production, storage, and transportation services to the maritime and transportation sectors.
8. Fjord Line
Fjord Line is a Norwegian transportation company founded in 1993. Its headquarters are located in Bergen, Norway. Fjord Line operates in Norway and Denmark, providing passenger and freight transportation services, including LNG-powered vessels. In 2021, the company signed an agreement with Barents NaturGass to supply LNG to its two LNG-powered ferries, MS Stavangerfjord and MS Bergensfjord.
9. Crowley Maritime Corporation
Crowley Maritime Corporation is a US-based marine transportation company founded in 1892. Its headquarters are located in Jacksonville, Florida, USA. Crowley Maritime operates in the US, Caribbean, and other regions, providing marine transportation services to various industries, including LNG transportation services.
10. Polskie LNG
Polskie LNG is a Polish LNG terminal operator founded in 2010. Its headquarters are located in Warsaw, Poland. Polskie LNG operates in Poland, providing LNG terminal services, including storage, regasification, and distribution to industries, power plants, and transportation sectors. In 2021, the company signed a memorandum of understanding with the Port of Gdansk to cooperate on the development of LNG bunkering infrastructure.
*Definition- LNG bunkering refers to the process of transferring liquefied natural gas (LNG) from a storage facility to a ship for use as fuel. It typically involves specialized equipment and safety protocols to ensure the safe and efficient transfer of LNG.
