That was the consensus at the CWC World LNG Summit in Barcelona which saw over 500 experts gather together from the gas and shipping industries.
Equipment costs could be the determining factor governing whether the shipping industry adopts LNG, Tom Strang, senior vice president of maritime affairs at cruise giant Carnival Corp. told delegates.
“For example, [LNG] tanks are very expensive. We would love to see cost of equipment coming down.”
There are some projects though that could turn the tide and help bring the costs associated with LNG down.
Rotterdam’s Gate LNG Terminal has recently been expanded with a third berth and new special infrastructure for the loading of small LNG vessels.
These small LNG vessels will enable distribution to LNG terminals in other North Sea and Baltic ports where large LNG tankers are prohibited to deliver directly due to their draught.
The CWC World LNG Summit incorporates the CWC Annual World LNG Summit Awards, which in 2016 was won by US based floating LNG solution expert, Excelerate Energy for its engineering achievements on the FSRU Explorer.
Excelerate’s newly upgraded FSRU, currently under charter at DUSUP’s Jebel Ali Terminal in Dubai, provides gas-up, cool-down, and loading services to LNG carriers and LNG powered vessels.