Dutch independent LNG supplier Titan LNG, has launched a tool aiming to provide clarity on prices for LNG as a marine fuel.
The company launched a comparison tool to enable like-for-like benchmarking to other fuels. It provides an overview of LNG prices delivered onboard in various quantities and ports, aiming to increase transparency and understanding of the cost of LNG as a marine fuel.
Furthermore, it displays up to date indicative pricing on a weekly basis in five key LNG fueling locations: Rotterdam, North Sea, Baltic, Mediterranean and Singapore, Titan LNG said.
The fuel comparison sheet enables informed decision-making by providing insight into the costs for LNG as a marine fuel, usually priced by € per megawatt-hour, compared to other existing fuels in € or US$ per ton or mmBtu delivered now and in the future for accurate budgeting.
The pre-formulated table enables users to input relevant market prices, which are automatically converted into the LNG equivalent, allowing owners and operators to follow market trends.
Régine Portocarero , business development manager, Titan LNG, said, “One of the biggest hurdles we face in the progress towards a low emissions future is the lack of transparency and understanding of LNG, which already contributes to reducing carbon and eliminates local harmful emissions. It is clear that LNG offers a clear pathway to decarbonisation through Bio-LNG and eventually using green hydrogen converted into E-fuels (Synthetic Liquid Gas).”
Titan LNG added that LNG pricing and availability remain central decision-making factors when considering the adoption of LNG as a marine fuel.