In a world facing heightened fuel uncertainty and a growing emphasis on sustainable energy solutions, Panos Mitrou, Global Gas Segment Director at Lloyd’s Register, shares valuable insights drawn from the history of LNG adoption. These insights shed light on crucial considerations for stakeholders navigating the ever-evolving marine fuel landscape, as reported by Horizons.lr.
- Panos Mitrou highlights lessons from LNG adoption, emphasizing the importance of securing pricing commitments and understanding supply chains for new fuels.
- Ship operators’ choices between LNG, scrubbers, and future low-carbon technologies are influenced by a mix of cost, environmental concerns, and market dynamics.
- Diversifying fuel strategies is crucial, given the fluctuating nature of energy prices and the need to adapt to evolving energy landscapes.
The Importance of Historical Guidance
Panos Mitrou, Global Gas Segment Director at Lloyd’s Register, emphasizes the significance of drawing lessons from over a decade of LNG fuel development and its relevance to the future adoption of low- and zero-carbon fuels.
Lesson One – The Pricing Dilemma
Mitrou highlights the pricing challenge faced during the early days of LNG adoption as suppliers hesitated to commit to pricing. This lesson underscores the importance of understanding and securing a stable supply chain when investing in new fuels.
Lesson Two – The 2020 Sulphur Cap and Fuel Choices
It explores how the 2020 sulphur cap presented an opportunity for LNG adoption, but some shipowners opted for scrubbers. The lesson here is that ship operators often make choices based on a combination of factors, including cost and environmental concerns.
Lesson Three – Diversity in Fuel Strategy
Mitrou concludes with a hypothetical scenario, emphasizing the need for a diversified fuel strategy. He suggests that while LNG may seem like a prudent choice, the fluctuations in LNG prices and the dynamic nature of the energy landscape make it essential for shipowners to consider a range of options in their fuel portfolio.
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Source:Horizons.lr
