What keeps LNG carrier and terminal operators awake at night?

Industry executives voiced a spectrum of concerns that reflected the complexities and evolving pressures faced by LNG shipping and terminal operators. From sustainability challenges to workforce retention, the discussions underscored the industry’s multifaceted challenges and opportunities.

An analysis of the anonymous Slido poll submissions at an LNG-focused shipping event revealed technological adaptation dominated the discourse, accounting for 29% of the questions. This theme included concerns over optimising tank designs, improving mooring systems and adapting infrastructure to accommodate alternative fuels such as bioLNG and ammonia.

Following closely, sustainability and decarbonisation represented 23% of the queries, reflecting the urgency of addressing methane emissions, exploring carbon capture technologies and overcoming the high costs of bioLNG.

Workforce challenges, which constituted 20% of the questions, highlighted the pressing need to attract and retain talent, particularly in the face of low remuneration and limited diversity in seafaring roles.

Meanwhile, geopolitical and market dynamics (17%) and other concerns (11%) demonstrated the sector’s need to navigate overcapacity, geopolitical tensions and shifting regulatory landscapes.

This distribution illustrates the balanced yet complex priorities of LNG carriers and terminal operators as they strive to secure their future.

Among the questions raised, five stood out for their resonance with delegates.

One of the most pressing issues was the economic viability of bioLNG, with a delegate questioning whether it could remain competitive without subsidies, especially as inflation impacts consumer costs.

Another significant concern revolved around workforce remuneration, with one attendee at the LNG Shipping & Terminals Conference 2024 asking, “How can we attract young people to seafaring when a third officer, responsible for hazardous cargo and crew safety, earns less than a grocery store worker?”

On the technological front, optimising tank designs captured attention, “What factors determine the balance between membrane and Type C tanks in various vessel sizes?”

Delegates also engaged with questions on regulatory strain, including the additional workload created by new inspection regimes requiring reduced crews to upload over 40 photographs per inspection.

Finally, questions on market overcapacity explored how Europe’s increased regasification capacity might affect FSRU deployment strategies in regions with declining demand.