With a global gas glut that is estimated to take seven-year to clear, the big oil companies are developing new markets to boost demand, signing deals to supply fuel for cruise liners, container ships and trucking companies. Investing heavily in massive production facilties that chill natural gas to a liquid for exporting, especially in U.S. , which is positioned to become the leading exporter, the global energy companies are banking on a rise in liquid natural gas (LNG) as a marine fuel. Research by LNG , an information and analytics company, forecast IHS demand in trucking and shipping to grow to 10% of all traded LNG by 2030 . Wood... However, lack of infrastructure and competition from low oil prices remain challenges.
With a global gas glut that is estimated to take seven-year to clear, the big oil companies are developing new markets to boost demand, signing deals to supply fuel for cruise liners, container ships and trucking companies. Investing heavily in massive production facilties that chill natural gas to a liquid for exporting, especially in U.S. , which is positioned to become the leading exporter, the global energy companies are banking on a rise in liquid natural gas (LNG) as a marine fuel. Research by LNG , an information and analytics company, forecast IHS demand in trucking and shipping to grow to 10% of all traded LNG by 2030 . However, lack of infrastructure and competition from low oil prices remain challenges.