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World Bank stands firm on warning against LNG as marine fuel

With the US and other countries headed for net-zero CO2 emissions in 2050, the business case for LNG as a shipping fuel is becoming increasingly risky, says World Bank economist Dominik Englert. Current climate policy events appear to confirm that time may be running out for LNG in shipping.

Photo: UECC

With growing political pressure for a rapid transformation of the global economy from fossil-based to sustainable production, shipowners should think twice before they invest in LNG as a transitional fuel in shipping, the World Bank warned in a recent report on LNG as a shipping fuel.

Since the release of the report, lawmakers in many countries are intensifying the fight against climate change, making the risk of stranded LNG-based shipping appear imminent.

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