ShippingWatch

World Bank stands firm on warning against LNG in shipping

With the US and other countries headed for net-zero CO2 emissions in 2050, the business case for LNG as a shipping fuel is becoming increasingly risky, says World Bank economist Dominik Englert in an interview with ShippingWatch. Current climate policy events appear to confirm that time may be running out for LNG in shipping.

Photo: UECC

With growing political pressure for a rapid transformation of the global economy from fossil-based to sustainable production, shipowners should think twice before they invest in LNG as a transitional fuel in shipping, the World Bank warned in a recent report on LNG as a shipping fuel.

Since the release of the report, lawmakers in many countries are intensifying the fight against climate change, making the risk of stranded LNG-based shipping appear imminent.

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