New Regulations for LNG Vessels
The Department of Energy (DOE) has recently issued a new order that removes barriers for the use of liquefied natural gas (LNG) to power vessels. This move is significant, as it aims to increase the adoption of LNG as a cleaner and more efficient alternative to traditional fossil fuels.
Benefits of LNG
LNG is a cleaner-burning fuel that produces significantly fewer greenhouse gas emissions and air pollutants compared to traditional fossil fuels. This makes it an attractive option for the maritime industry, which is one of the largest consumers of fossil fuels. LNG is a cleaner-burning fuel that produces significantly fewer greenhouse gas emissions and air pollutants compared to traditional fossil fuels.
The facility is owned by JAX LNG, LLC, a subsidiary of the global energy company, NextEra Energy.
Introduction
JAX LNG is a pioneering facility that has been providing LNG as fuel to the maritime industry for several years. Located in the southeastern United States, the facility is strategically positioned to serve the growing demand for LNG as a cleaner and more efficient fuel source for ships.
Key Features of JAX LNG
History of JAX LNG
JAX LNG has a rich history that dates back to the early 2000s. The facility was initially developed to meet the growing demand for LNG as a cleaner and more efficient fuel source for ships.
The global LNG market is expected to grow at a CAGR of 7.2% from 2023 to 2028, driven by increasing demand from the shipping industry. The global LNG market is expected to reach $1.3 trillion by 2028, up from $1.1 trillion in 2023. The global LNG market is expected to be dominated by Asia, accounting for over 50% of the total market share. The global LNG market is expected to be driven by increasing demand from the shipping industry, with the number of LNG-fueled ships expected to almost double by 2028.
The LNG Market: A Growing Industry
The liquefied natural gas (LNG) market is experiencing significant growth, driven by increasing demand from the shipping industry. As the world’s population continues to grow, so does the need for efficient and environmentally friendly transportation solutions.