Reported 11 months ago
A decrease in natural gas prices is leading to increased adoption of LNG-powered trucks and ships in China, moving the country further away from reliance on oil. As one in three new heavy-duty trucks sold in China in April was powered by LNG, a significant increase from the previous year, similar trends are observed in the maritime sector in Singapore. The appeal of LNG as an alternative to oil in long-distance transport has been enhanced by sustained low prices, leading to expectations that LNG will continue to replace diesel and gasoline consumption in China. While the shift to electric vehicles is decarbonizing light transport, LNG is gaining traction due to factors such as better fuel efficiency, greener emissions, and cost competitiveness compared to diesel.
Source: YAHOO