• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 9 hours Starvation, horror in Venezuela
  • 14 mins The EU Loses The Principles On Which It Was Built
  • 11 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 6 hours Crude Price going to $62.50
  • 15 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 9 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 20 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 20 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 8 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 20 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 22 hours Monsanto hit by $289 Million for cancerous weedkiller
  • 1 day California Solar Mandate Based on False Facts
Why The U.S. Won’t Sanction Venezuela’s Oil

Why The U.S. Won’t Sanction Venezuela’s Oil

Rumors of the U.S. government…

Oil Prices Hit 7-Week Low As Trade War Heats Up

Oil Prices Hit 7-Week Low As Trade War Heats Up

Oil prices traded close to…

European Ships Switch to LNG to Cut Emissions and Comply with EU Law

Ports in Northern Europe are switching to natural gas as a cleaner, cheaper way of powering ships, compared to the traditional fuel oil.

A European Union law has set the target to cut greenhouse gas emissions from the shipping industry to 40% of 2005 levels by 2050. Switching to liquefied natural gas will play a major part in achieving this goal.

Swedegas, the Swedish infrastructure company, and Vopak, the Dutch oil and gas storage company, have announced that they will jointly invest $155.3 million in an LNG terminal in the port of Gothenburg.

A spokeswoman from Swedegas said, “we can start bunkering (term that refers to the refuelling of ships) in Gothenburg in 2015, and activity will be expanded by 2017.”

By the end of the decade it is expected that LNG fuel stations will be much more common around European ports.

Arthur Barret, the director of LNG bunkering at Gaztranport & Technigaz, said that “it will be at least two years before major deep-sea shipping companies order LNG-powered engines once financing becomes more available. By then, hopefully, there will also be more infrastructure to load LNG as a ship fuel.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News