It’s been a big and yet mixed year for LNG. On the one hand, it was hoped that 2020 would be a cornerstone year for LNG as one of many fuelling options available to help the maritime sector navigate the choppy new waters of IMO 2020.
Under the new global cap, in force from 1st January 2020 by the International Maritime Organisation (IMO), ships have to use marine fuels with a sulfur content of no more than 0.50% against the current limit of 3.50%, in an effort to reduce the amount of sulfur oxide. It’s a move which has been a long time coming and had been expected to lean on the use of LNG as a shipping fuel.
Further fillips have been seen in various developments throughout the year, from continued LNG terminal/project announcements across the globe to the news in June that the US Department of Transportation (USDOT) and the Pipeline and Hazardous Materials Safety Administration (PHMSA), in consultation with the Federal Railroad Administration (FRA), would allow the use of cryogenic railcars to ship LNG from production plants to destinations across the US.
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