Saving every drop: LNG tankers turn to burning oil as gas prices soar

Liquefied natural gas (LNG) tankers are burning dirtier fuel oil than normal to try to conserve as much of their LNG cargo as possible after the price of the super-chilled fuel soared above oil, trade and shipping sources have told Reuters. LNG tankers often use some of their natural gas cargo – stored in liquid form at minus 163 degrees Celsius – to help power the ship, as a small portion of the LNG tends to evaporate or “boil off” during transit and needs to be removed from the tanks anyway to avoid the build up of pressure. When gas prices were lower, they chose to “boil off” more of these cargoes over using fuel oil to power the ships. But the current price of LNG is so high that ship operators are trying to avoid using more than necessary of the stored gas for fuel, and are instead relying on cheaper fuel oil, shipping sources said.