- The energy content of LNG is slightly more than half that of fuel oil, so to extract the same energy output when consuming LNG rather than fuel oil it is necessary to consume almost twice the volume of LNG. Whilst the chemical makeup of LNG will admittedly result in a slightly lower CO2 emission, it is certainly not a large magnitude; but there is another important consideration: LNG is principally methane. With methane recognised as a GHG and widely considered to be twenty-five times more harmful than CO2, it would only require a 4% slip through the supply chain to equal the CO2 emissions from the industry’s current consumption of heavy fuel oil.
If we, rather generously, accept that burning LNG will reduce CO2 emissions by 20% over the current level it would require less than 1% slip for there to be no gain from a GHG perspective. Taken over the
entire supply chain, 1% is not an unrealistic slip. Unfortunately, the LNG myth has progressed unchecked with very few challenging those lobbying for a wider take up of LNG.