Saving every drop – As gas prices rise, LNG

Liquid natural gas (LNG) tanks have been able to produce as much LNG as possible after the price of super-cooled fuel increased. Trade and shipping sources told Reuters they were burning more fuel than usual to protect their cargo.

LNG Tanks often use some natural gas cargo – stored in liquid form at 163 degrees Celsius – to assist the ship’s power, because the LNG. Tanks to avoid pressure buildup anyway.

When gas prices are low, they prefer to “boil” more of these loads instead of using fuel to move the vessels.

But the current LNG Prices are so high that ship operators are trying to avoid using more fuel than stored gas, instead relying on cheaper fuel, ship sources.

“It is not uncommon for petroleum to be cheaper than LNG, so traders are using it to save money,” said a Singapore-based shipping source.

According to sources, Sponn LNG is currently about $ 200 a ton more expensive than the offshore oil used by the offshore refineries in Singapore and Rotterdam.

Flexible drive

Older LNG tanks work on steam turbines that combine heavy fuel oil and “boiling” gas, and the new ships, built in 2014, have two or three diesel engines that burn a mixture of marine fuel and “boiling” fuel. Gas is more efficient.

Over the past few years, gas prices have fluctuated significantly below the level of oil or marine oil.

Last year, however, the rise in LNG prices pushed oil prices sharply on LNG, making it the main fuel of choice.

Traders who send short distances by truck are more likely to increase fuel consumption, especially from their cargo costs and save operating costs, the second source said.

“Some are more aggressive in the economy, so they use more fuel if it’s cheaper, but that means the ships have to stockpile more,” he said.

LNGG ships typically have limited space to store fuel or marine oil, which means they have to make several stops to refuel, and there is another source.
Source: Reuters (Report by Jessica Jaganatan. Reported by Gavin Maguire and David Evans)

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