Nigeria LNG Limited (NLNG) has called for targeted global policies and financing solutions to drive decarbonisation in the LNG shipping industry, as it addressed key stakeholders at the 29th World Gas Conference (WGC 2025) in Beijing.
Speaking during a panel session on LNG Shipbuilding and Transportation, Tolu Longe, Manager of Commercial Contract Management at NLNG, urged governments and regulators to adopt frameworks that support innovation across the vessel lifecycle—from construction to decommissioning.
“We need regulatory frameworks that reflect the unique dynamics of LNG shipping and incentivise innovation,” said Longe, who represented NLNG’s Deputy Managing Director, Olakunle Osobu. “Supportive policies must encourage investment in emerging technologies like onboard carbon capture systems.”
Highlighting the industry’s financing hurdles, particularly in Africa, Longe criticised the global financial sector for prioritising traditional credit metrics over climate impact. “There’s a clear misalignment,” he noted. “Without access to subsidies or affordable financing, the transition remains difficult.”
He advocated for increased collaboration with institutions like Afreximbank and the International Finance Corporation (IFC) to close the funding gap and back sustainable maritime projects.On the technology front, Longe pointed to the role of artificial intelligence and data analytics in reducing costs and boosting fuel efficiency.
“AI can optimise engine performance, route planning, and navigation—especially as ships get larger,” he said. “It also improves safety by responding to real-time conditions like weather and port congestion.”
Longe also addressed the financial strain on shipowners who must choose between retrofitting older vessels or investing in new, greener fleets—often without premium pricing for cleaner options. “The market isn’t rewarding sustainability yet. Shipowners are carrying the cost while financiers remain hesitant,” he warned.
“This disconnect could depress charter rates for years.”Referencing the International Maritime Organisation’s (IMO) 2028 mandate for a two per cent cut in emissions intensity, he cautioned that relying solely on dry-dock retrofits won’t suffice.
“We need scalable solutions that work during normal operations,” Longe emphasised.The WGC 2025, themed “Energising a Sustainable Future”, brought together stakeholders from over 90% of the global gas industry to chart a course toward a decarbonised energy future.
