Liquefied Natural Gas (LNG): Alternative Marine Fuel Restriction and Regulation, Considerations, Environmental and Economic Assessment

Abstract

Energy, environment, and economy are three pieces of a chain which are cohesively bound together and always in a correlation with each other. Therefore, offering a suitable substitution for current fuels that satisfies energy requirements and reduces fuel costs with less pollutant gases needs a detailed assessment of available alternative fuels as well as a complete analysis of Strength, Weaknesses, Opportunities, and Threat (SWOT). A comprehensive overview of the environmental and economic aspects of liquefied natural gas (LNG), as an alternative to marine fuel, is presented with a focus on the codes, standards, regulations, restrictions, and guidelines which are vital for maintaining a balance between market and industry. The various characteristics of LNG has been compared with other fuels and depicted that LNG has lower emission and offers major environmental benefits at regional and global levels.