State subsidies ought to be multiplied to drive carriers away from fossil fuels

It will require annual billion-euro subsidies getting carriers to make the transition from fossil fuels to e-LNG, according to a new study voicing doubts regarding e-LNG as a future fuel.

Photo: Bloomberg/Bloomberg

If carriers are to move from fossil fuels to ”renewable” liquefied natural gas (e-LNG), Europe will have to provide billion-euro subsidies, according to a report by the International Council of Clean Transportation.

It will require state subsidies of around EUR 17.8bn annually in 2030 to cover the costs of transitioning from fossil fuels to e-LNG, according to the study.

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