AET Tanker Holdings, a part of Malaysia’s MISC Group, is hopeful about LNG’s prospects as a possible fuel solution in order to decrease maritime carbon emissions, according to media reports. This news comes to us after international shipping’s environmental emissions come under the scanner for carbon emissions.
Rajalingam Subramaniam, president and CEO, AET, said in an interview during the 37th Asia Pacific Petroleum Conference, or APPEC 2021, “AET sees LNG as the most viable fuel solution available today, and possibly with technology advances, it will be part of the fuel solutions longer-term, well past 2030.
“Currently, we have three Aframaxes, two DPSTs operating and five VLCC new buildings on LNG dual-fuel. We are working together with key clients to further rejuvenate our fleet with dual-fuel assets. We acknowledge the methane slip debate from ‘well to wake’, and we are investing in technologies to reduce the methane slip onboard – where we can control our tank to wake solutions.”
Subramanian also added that in the last four years, AET has made strategic investments of $2 billion worth of new assets and out of which $1 billion was invested in LNG dual-fuel assets across its vessel segments.
Even though there are some challenges and limitations of the existing technology, LNG comes with a whole host of advantages. It is already an established technology that is easily available. The company is growing rapidly and emits about 20%-25% less CO2 than conventional marine fuels while providing the same amount of propulsion power.