AMSTERDAM, February 16, 2011 /PRNewswire/ -- Small scale LNG has been experiencing considerable growth in the past years and will be gaining even more popularity and importance in the upcoming years. Many organisations are now investigating the business case and are considering investing in the new technology.
As the global liquefied natural gas sector continues to expand, companies are exploring how to best harness the technology. Many organisations are assessing the needs and uses of small to mid-scale LNG and seeing how best to boost their presence in the sector, and one of these companies is Rotterdam-based Anthony Veder.
The Dutch shipping company recently ordered a new LNG carrier from custom ship builder Meyer Werft, which will be used solely for the transport of LNG. At an overall length of 156m and with a breadth of 22.7m, the carrier will have a cargo capacity of 15,600 cubic metres and the two companies revealed that it will be able to run on low-emission LNG fuel to limit environmental impact.
Currently, the company cites its aims as developing the large-scale CO2 shipping concept and further developing the small-scale LNG market. Jan Valkier, Managing Director of Anthony Veder, said the latest addition to the fleet is scheduled for the end of 2012.
"We are excited about our next step in LNG with this innovative ship, the first of this type. It fits our goal to further develop this market of distributing environmental friendly energy," Anthony Veder explained.
The bright future of the small to mid-scale LNG sector was also recently highlighted by Rodney George, Vice President of power plants for Wartsila Caribbean Inc. Speaking at an event in Miami, Platts quoted him as saying that the LNG market in the Caribbean region will grow due to many factors which make it a more attractive energy fuel than traditional oil-based resources.
According to Mr George, oil-based fuels account for 95 per cent of energy in the Caribbean, but organisations are quickly realising that LNG is less expensive than both low-sulphur and high-sulphur fuel oil. LNG is also regarded as a cleaner fuel than residual fuel oil, which Mr George argued could make it a more attractive investment to financial institutions.
The Wartsila Caribbean Vice President also noted that smaller projects are now being favoured over large-scale ones, while LNG transporters are no longer restricted to larger ships thanks to 10,000-15,000 cubic metre vessels growing in prevalence - a case in point being the one Anthony Veder has ordered from Meyer Werft.
It is clear from the moves being made in both Europe and the Caribbean that small to mid-scale LNG will only increase in popularity and importance in the coming years. With investment ranging from the French Isles to the Baltic, the benefits and challenges associated with LNG will be in the spotlight for some time to come.
Current trends in small scale LNG will also be discussed during the Small-Mid Scale LNG Summit taking place 11th - 12th April 2011 in Amsterdam. Senior LNG professionals will gather to discuss the commercial and business case for smaller LNG projects and the technologies needed to make these happen. International case studies will be explored including updates from Vietnam, the Philippines, China, Turkey, Norway, France and the Netherlands. For more information about the Summit visit http://bit.ly/efD63A
Note to editors: for further information about the Small-Mid Scale LNG Summit see http://bit.ly/efD63A
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SOURCE Small-Mid Scale LNG Summit