Japan's Marubeni Corporation is the latest company to join SEA\LNG, a multi-sector industry coalition aiming to accelerate the widespread adoption of LNG as a marine fuel, SEA\LNG said in a statement.
This comes at a time when Japan, the world's largest LNG importer which accounts for about 35% of global demand, is set to play a significant role in LNG bunkering as the marine industry turns to cleaner fuel options to comply with stricter environmental regulations, including the International Maritime Organization's 2020 global sulfur cap.
LNG far exceeds alternative options in terms of emissions reductions, as it emits zero sulfur oxides and virtually zero particulate matter. It can also emit 90% less nitrogen oxide than heavy marine fuel oil, according to SEA\LNG. With the use of best practices and appropriate technologies to minimize methane leakage, LNG offers the potential for up to a 25% reduction in greenhouse gas emissions, SEA\LNG said.
"Although our company has expertise in multiple sectors, we view LNG as a core business field within our multifaceted service offering," Marubeni's Executive Officer and Chief Operating Officer of its Energy Division, Akihiko Sagara, said in the statement.
"Together with our partners, we look forward to collaboratively working towards a cleaner, more efficient shipping environment," he added.
Since its launch in July 2016, SEA\LNG's membership has expanded rapidly from 13 to 25 members, which comprise shipping companies, LNG suppliers, infrastructure providers, classification societies, downstream companies, major ports and original equipment manufacturers.