What is an LNG ship? - Clarksons

There are about 360 LNG carriers around the world. Also known as LNG ships, this type of vessel is specifically designed to handle the unique properties of liquefied natural gas (LNG) during its transportation. Given the nature of LNG, it cannot be shipped on regular vessels. Instead, it needs to go on an advanced LNG ship which can ensure that during its transit, the LNG is kept at either:

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• Pressures much greater than atmospheric pressures, or
• Very low temperatures (around -162°C), or
• A combination of both.

Due to the nature of LNG, it needs to be transported under high pressures or very low temperatures, or sometimes both, to keep it in its liquid state. LNG carriers are designed to handle these specific conditions.

What is LNG?

The earth has large quantities of natural gas, however it has to be transported from gas fields to the areas where it’s needed. To ship natural gas safely and efficiently, it must first be converted into liquefied natural gas (LNG) in a process called liquefication. When you cool natural gas to extremely low temperatures (around -162°C), it transforms from a gas to a liquid state and reduces to 1/600th of its original volume. Once condensed into a liquid, LNG can be safely stored and efficiently shipped, using specially designed LNG vessels, to meet the energy needs of communities located far away from the gas source.

What is an LNG vessel?

An LNG vessel (also known as an LNG tanker, carrier, or ship) is specially designed to transport LNG in large quantities. Typically, they are around 300 metres long, 43 metres wide, and have a draft of about 12 metres.

LNG vessels stand out from other bulk cargo carriers due to their unique features (e.g. heavy insulation and temperature-controlled tanks) which allow them to keep the gas in a liquid state. They usually have a turbine-powered propulsion system that uses boil-off-gas (BOG) from LNG, boiled liquid fuels like oil, or a combination of both. By using natural gas as their fuel for propulsion, LNG carriers produce fewer greenhouse gas emissions than traditional ships.

What are the different types of LNG ships?

How much LNG can a ship carry?

LNG carriers come in various different sizes, from small-scale to large-scale carriers. The amount of LNG a ship can carry will depend on that specific vessel’s size and capacity:

• Small-scale carriers have an approximate cargo capacity of 1,000m³ (35,300 ft³) to 40,000m³ (1.4 million ft³)
• Medium-scale carriers have an approximate cargo capacity of 40,000m³ (1.4 million ft³) to 80,000m³ (2.8 million ft³)
• Large-scale carriers (also known as Q-max or Q-flex ships) have an approximate cargo capacity of 120,000m³ (4.2 million ft³) to over 260,000m³ (9.2 million ft³).
  
  

It is worth noting, however, that the above figures are only estimates. The actual cargo capacity of an LNG ship will depend on its specific:

• Design
• Technology
• Purpose

Furthermore, it is expected that we will see vessels with much larger capacities in the coming years as LNG carrier technology continues to advance.

How do LNG ships work?

LNG ships have a number of specialised features which enable them to transport liquefied natural gas (LNG) safely and efficiently. These include:

• A double hulled structure
  The ship’s hull is made from materials which can withstand a wide range of temperatures. Furthermore, the space between the inner and outer hull reduces heat transfer and protects cargo tanks in the case of an emergency.
• Insulated tanks
  Four or five large tanks hold the LNG. Usually made of aluminium or 9% nickel steel, they are each several layers thick in order to prevent leaks and maintain the cold temperature necessary to keep the gas in its liquid form.
• A gas combustion unit (GCU) in the propulsion system
  Several different propulsion systems are used in LNG carriers, but they all feature a GCU. This avoids pressure build-up in the cargo tanks by allowing for the disposal of excess boil-off gas (BOG).
  
  

LNG vessel charter rates

In , Clarksons Securities analyst Frode Mørkedal wrote, “LNG carriers are shooting for the stars. Spot earnings have reached dizzying heights.” At that point average voyage rates for the most efficient LNG carriers were at $313,000 per day while tri-fuel, diesel engine (TFDE) carrier rates were assessed at $276,700 per day. These high charter rates reflect LNG’s important role in the green transition.

As the world’s most comprehensive and widely recognised gas brokerage service, Clarksons’ expert teams are able to advise and guide clients on both short and long-term chartering. Spanning three continents and covering most time zones, our gas broker specialist teams work seamlessly to provide the highest level of client support with LNG vessel chartering.

Today, the United States is the world’s largest producer of natural gas.  Natural gas supplies about 1/3 of the United States’ primary energy consumption,  with its primary uses being heating and generating electricity.  While the majority of natural gas is delivered in its gaseous form via pipeline in the United States, the growth in the international market for natural gas has given rise to the use of natural gas in a liquefied form, or LNG.

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LNG Basics

Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state, at about -260° Fahrenheit, for shipping and storage. The volume of natural gas in its liquid state is about 600 times smaller than its volume in its gaseous state. This process makes it possible to transport natural gas to places pipelines do not reach.

Liquefying natural gas is a way to move natural gas long distances when pipeline transport is not feasible. Markets that are too far away from producing regions to be connected directly to pipelines have access to natural gas because of LNG. In its compact liquid form, natural gas can be shipped in special tankers to terminals around the world.  At these terminals, the LNG is returned to its gaseous state and transported by pipeline to distribution companies, industrial consumers, and power plants.

LNG Trade

For large-volume ocean transport, LNG is loaded onto double-hulled ships, which are used for both safety and insulating purposes. Once the ship arrives at the receiving port, LNG is off-loaded into well-insulated storage tanks, and later regasified for entrance into a pipeline distribution network.

LNG can also be shipped in smaller quantities, usually over shorter ocean distances. There is a growing trade in small-scale LNG shipments, which are most commonly made using the same containers used on trucks and in international trade, specially outfitted with cryogenic tanks. Other small-scale LNG activities include “peak-shaver” liquefaction and storage facilities, which can hold gas compactly for when it is needed in local markets in the U.S. during times of peak demand.  LNG is also sometimes imported or exported by truck from this kind of facility.

In , the U.S. exported almost 2,400 billion cubic feet (Bcf) of natural gas in the form of LNG in large LNG tanker ships, along with a small quantity shipped by container or in trucks.  In total, as of August , U.S. LNG has been delivered to 40 countries on five continents.  The U.S. also still imports some LNG, mostly to New England, a region of the country constrained by limited pipeline and storage capacity. 

DOE's Role

The Department of Energy has regulatory responsibilities related to LNG. Companies that want to export natural gas must get authorization to do so from DOE’s Office of Fossil Energy and Carbon Management (FECM). The Natural Gas Act (NGA) requires DOE to make public interest determinations on applications to export LNG to countries where the U.S. does not have existing free trade agreements. FECM’s natural gas import-export regulatory program is implemented by the Division of Regulation in the Office of Regulation, Analysis, and Engagement.

There are two standards of review under the NGA for LNG export applications, based on destination countries.  Applications to export LNG to countries with which the United States has a free trade agreement (FTA countries) or to import LNG from any source are deemed automatically in the public interest. The NGA directs DOE to evaluate applications to export LNG to non-FTA countries. DOE is required to grant export authority to non-FTA countries, unless the Department finds that the proposed exports will not be consistent with the public interest, or where trade is explicitly prohibited by law or policy. DOE acts on long-term LNG export applications to non-FTA countries after completing a public interest review that includes several criteria, including economic and environmental review of the proposed export.  Typically, the Federal Energy Regulatory Commission (FERC) has jurisdiction over the siting, construction, and operation of LNG export facilities in the U.S.  In these cases, FERC leads the environmental impact assessments of proposed projects consistent with the National Environmental Policy Act, and DOE is typically a cooperating agency as part of these reviews. Obtaining a DOE authorization to export LNG to non-FTA countries is an important step for most projects in their path toward financing and construction.

Some of the companies that have LNG export authorizations from DOE have not reached final investment decisions on their projects. Construction of large facilities takes years to complete and costs billions of dollars. A complete list of long-term LNG export applications and their current status can be found in DOE’s Summary of LNG Export Applications.

DOE also promotes market transparency with published reports on LNG export volumes, destinations, and prices in its LNG Monthly Report. The first-ever exports of domestically-produced LNG from the lower-48 states occurred in February .  Cheniere Energy’s Sabine Pass Liquefaction, LLC exported the first LNG tanker cargo from the Sabine Pass LNG Terminal in Louisiana, with a shipment to Brazil.

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