The LNG Conference 2019 concluded in Gothenburg, Sweden. The event held on 27-28 May, 2019, gathered an engaged crowd and an impressive speaker line-up, providing the audience with an in-depth market overview, reports from ship operators who opted for LNG as marine fuel, as well as a closer look at some interesting, new tech solutions.
The basis for the discussion has been set by James Kyritsis (Drewry), giving the participants an outlook on the global LNG market and analyzing the impact of its dynamics on Europe and the Baltic region. Key takeaways pertaining to the current market situation and future forecasts included the expectation for US LNG exports to increase significantly, based on the country’s liquefaction capacity to exceed 100 million tonnes by 2023, small LNG carriers and bunkering vessels continuing to attract investment and the low price arbitrage between European and Asian markets, leading to US exports being diverted to Europe.
Infrastructure development and its importance for establishing LNG as marine fuel has been discussed during two presentations, delivered by Gunnar Helmen (Gasum) and Antonio Illescas (Swedegas). According to the findings of the former of the two gentlemen, Northwestern Europe is the leading region when it comes to LNG infrastructure supporting a sustainable, maritime business. Patience has been recommended though, since time is needed to establish a supply chain. It is important to underscore, that LNG is not a “dead-end” solution. The infrastructure can be utilized when the industry moves towards its next evolutionary step – LBG and synthetic methane.
Experience reports from a group of ship operator were one of the highlights of the event. Christian Hoepfner (Wessels Marine) offered some practical insights, sharing the experiences his company gathered while retrofitting one of its vessels, the Wes Amelie, for LNG usage. The project was a success, proving that retrofitting can be an important step towards maritime energy transition. Increasing LNG bunkering availability in the Baltic region, translating into supply safety, is another key aspect helping operators switch to LNG , as highlighted in a presentation by Rasmus Hellman (NEOT).