LNG is an inexpensive energy source for maritime vessels but as a ship fuel it is a tool for the maritime industry to meet upcoming environmental regulations. LNG improves air quality and reduces GHG emissions. Its appeal compared with scrubber technology and/or use of MGO is down to four main reasons:
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- the time spent by vessels within ECAs
- cost differences between LNG and HFO+scrubber or MGO
- investment costs for LNG technology (engine/tanks/piping)
- availability of financial incentives