DNV GL forecasts a high share of natural gas in maritime sector by 2050
Risavika LNG front month has dropped 5.8 % week on week to 20.50 EUR/MWh following the European gas markets. Increased gas flows from Norway and LNG sendouts weighed on front gas prices last week, DNV GL said in its release.
Fuel oil 3.5 has continued downside trend dropping by 7.5 % to 219.04 USD/t, while low sulfur oil products (MFO 0.5 and MGO 0.1) have dropped by 4.3-5.5 % accordingly compared to previous week following the drop of crude oil prices and inventory data, which showed a build both in the US and ARA oil products stocks.
DNV GL has released its Energy Transition Outlook: a global and regional forecast to 2050. According to the company, maritime sector emissions could decrease from current 820 Mt CO2 to 600 Mt by 2050. As direct electrification is expected to be viable only in the shortsea segment and few low- and zero-carbon fuel alternatives are available and practical today, maritime transport is considered a hard-to-abate sector from emission perspective. DNV GL forecasts a high share of natural gas, ammonia, and other low- and zero-carbon fuels in maritime market by 2050, while use of oil would reduce dramatically, reaching only 6 % of its current consumption.