World News: 11:45 GMT Thursday 6th December 2018. [Energias Market Research via Globe Newswire via SPi World News]
NEW YORK, Dec. 06, 2018 (GLOBE NEWSWIRE) -- The demand for is projected to by 2030, actuating at an estimated from 2020 to 2030. Increasing investment in LNG infrastructure in the Baltic region, and the support from local governments for the adoption of LNG as a marine and road transport fuel is expected to give impetus to the market growth during the forecast period. Moreover, the sulphur emission cap set by the European Union on road transport fuel and marine fuel is expected to propel the market in the coming years.
Gazprom, a Russian company, had a monopoly on the natural gas exports to the Baltic region in the past. This led to higher import costs of natural gas in these countries. To reduce the dependency on Russian imports and to develop a negotiating platform for prices, small-scale infrastructure is being developed across the region. The infrastructure includes building of LNG import terminals, bunkering terminals, LNG truck fueling stations, and an efficient distribution network for truck reloading operations. FSRU Independence in Lithuania currently serves as a hub for LNG import in the north-eastern Baltic countries. However, with recent developments in Estonia, relocation of LNG import traffic is expected in the coming years.
Baltic countries are developing LNG bunkering infrastructure across the Baltic Sea to cater for the LNG marine fuel market currently in nascent stage. Companies like Gorskaya have planned floating storage units with a small bunkering vessel at several locations. These facilities can be expanded with storage and truck loading bays adding to the countries LNG distribution network. In the most basic supply chain operations, LNG import terminals supply LNG to bunkering terminals via truck reloading operations or a small carrier vessel. A bunkering terminal planned in the port of Montu will act as a strategic point to perform marine bunkering operations in the Baltic Sea. These developments are expected to create a positive impact on the marine fuel bunker market.
The conventional fuels for road transport have high carbon and sulphur emissions. This has led to adoption of greener fuels for vehicles. CNG fueling stations have experienced success in Baltic markets and are growing at a steady rate. This reflects the optimistic adoption of LNG as a fuel for long-haul trucks. Additionally, LNG fueling services can be integrated with CNG facilities enabling easy installation in an efficient manner.
Estonia is poised to witness significant growth in small-scale LNG infrastructure, and is likely to be a small-scale LNG hub in the north-eastern Baltic Sea. Estonia is developing several regasification facilities, constructing a natural gas pipeline with Finland, and bunkering facilities to cater for the upcoming marine bunkering market. For instance, the Paldiski regasification terminal will also serve as a LNG storage facility for truck reloading, truck-to-ship & marine bunkering. Moreover, LNG Gorskaya, a Russian company, is planning to construct a bunkering facility in the port of Parnu before the year 2020. This facility consists of a floating storage unit of 5500 cubic meter capacity, and a small-scale bunkering vessel of capacity 1300 cubic meter. Similar facility is planned at the port of Montu and other countries in Europe. These facilities are expected to target the bunkering market in Baltic Sea. Gorskaya is planning to operate from a LNG liquefaction plant located near St. Petersburg, and will be fed natural gas from a pipeline of Gazprom.
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Globe Newswire: 11:45 GMT Thursday 6th December 2018
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