Alternative Fuels: The 3 Drivers Of New Energies

Edmund Lam at ADI Analytics looks at the future of alternative fuels and the implications for the tank storage industry Sustainability, the energy transition, and energy security are driving new interest in alternative fuels. These include liquefied natural gas (LNG), which is widely used in heavy-duty transport, maritime, and power generation; renewable diesel (RD) and other biofuels such as sustainable aviation fuel (SAF) and biodiesel, which can be used in a wide range of on-road and off-road applications; and other synthetic fuels such as e-fuels, hydrogen, ammonia, and methanol (as shown in Figure 1). [caption id="attachment_66432" align="aligncenter" width="543"] Figure 1: Overview of key alternative fuels and their applications[/caption] There are several key drivers for the growing adoption of these alternative fuels, including policy and regulatory support, global climate and decarbonisation goals, and energy security and supply diversification. 1. Policy and regulatory support Governments worldwide are advancing renewable fuel adoption through blending mandates and renewable fuel standards. Examples include the EU’s ReFuelEU Aviation initiative, mandating a...