AMMONIA has emerged as a promising alternative fuel as the shipping industry looks for more sustainable fuel options.
With new global regulations having set a clear destination for shipping – net zero emissions by mid-century – ammonia will play a significant role in enabling the shipping industry to reduce its emissions.
A report by Wartsila highlights the role that sustainable fuels will play in achieving this target which is set by the International Maritime Organization (IMO).
According to the report, existing decarbonisation solutions, such as fuel efficiency measures, can cut shipping emissions by up to 27 per cent; however, sustainable fuels, such as ammonia, will be a critical step in eliminating the remaining 73 per cent.
In this context, Hakan Agnevall, President and CEO of Wartsila highlights the importance of cross-industry collaboration.
He says: “In just 25 years – the lifetime of a single vessel – shipping needs to get to net zero emissions. Achieving this will require coordinated action by all maritime industry stakeholders to bring about the system change needed to accept a new generation of sustainable fuels."
Sustainable shipping fuels could reach cost parity with fossil fuels as early as 2035 with the help of decisive emissions policy such as carbon taxes and emissions limits, according to a new report launched today by technology group Wartsila.
The report, titled ‘Sustainable fuels for shipping by 2050 – the 3 key elements of success’, reveals that the EU Emissions Trading Scheme (ETS) and FuelEU Maritime Initiative (FEUM) will see the cost of using fossil fuels more than double by 2030.
By 2035, they will close the price gap between fossil fuels and sustainable fuels for the very first time.
Transporting 80 per cent of world trade, shipping is the engine room of the global economy.
Diese Geschichte stammt aus der October 2024-Ausgabe von Oil and Gas News.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 2024-Ausgabe von Oil and Gas News.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
MAINTCON to drive resilience in asset management
THE 7th International Maintenance, Reliability, and Asset Management Conference (MAINTCON 2024), being held from October 13-16 at Exhibition World Bahrain, is set to be a landmark event in the industry.
Honeywell, Samsung E&A to reduce power plant emissions
HONEYWELL and Samsung E&A have announced a joint marketing initiative to reduce carbon emissions in the global power plant sector. The initiative aims to combat climate change and align Honeywell's portfolio with three megatrends, including the energy transition.
New EPIC Flex Orbit System boosts downhole completion
GEODYNAMICS, a global leader in perforating, downhole completion, intervention, and wireline conveyed solutions, has launched its EPIC Flex Orbit Perforating System.
MHI upgrades its CO2MPACT series
MITSUBISHI Heavy Industries (MHI) has renewed its CO2MPACT series, a commercially available decarbonisation solution for various industries.
Viking Completion finishes gas project in Germany
VIKING Completion Technology, a leading supplier of well completion equipment and services, has completed a significant gas storage project in Germany.
Sanicro 35 alloy offers strong structural stability
ALLEIMA has introduced Sanicro® 35, a super austenitic alloy that bridges the gap between conventional stainless steels and higher-cost nickel alloys.
ROC is advancing energy with Congo LNG
THE Republic of the Congo (ROC) is making significant strides in its energy sector, with the successful start-up of its Congo LNG development and Moho Nord field expansion project.
ANPG and Sonangol launch Kwanza Basin campaign
ANGOLA'S National Oil, Gas & Biofuels Agency (ANPG) and national oil company Sonangol have launched a 45-day geological data acquisition campaign in the onshore Kwanza Basin to identify the country's largely unexplored hydrocarbon potential.
Namibia's O&G sector is Africa's next big play
NAMIBIA, a nation known for its stunning landscapes and abundant wildlife, is rapidly emerging as a top destination for oil and gas exploration and investment.
Fossil fuels revenue loss could cost Africa: Paper
IN a recent commentary, Dr Oramah, President and Chair of Afreximbank presented a nuanced view on the urgent need for climate action in Africa while acknowledging the continent's reliance on fossil fuels.
