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Reuters reported recently that trucking fleets in China are embracing liquefied natural gas (LNG) as an alternative fuel, accelerating a decline in diesel demand to the world’s biggest oil importer. According to the story, it is a trend India wants to emulate.
The rise of LNG trucks in China joins electric vehicle (EV) adoption there at a time of prolonged economic slowdown, Reuters said. This has dampened oil consumption growth, with crude imports down 2.8 percent so far this year, weakening global prices.
According to Reuters, sales of LNG-fueled trucks in China surged in the first half of to nearly 109,000 vehicles after a sharp decline in local LNG prices. These sales are more than twice those of the same period in , according to information provider CVWorld. Government subsidies and tighter emissions standards in recent years have paved the way, Reuters said.
However, research consultancy Energy Aspects said rising local LNG prices and lower diesel prices in August ended a 20-month streak of year-on-year increases in LNG truck sales in China, which according to Reuters highlights the price-sensitivity of demand for the vehicles. Over the longer term, LNG-powered trucks may be displaced by electric trucks, Reuters said, especially in an EV market such as China, as battery technology improves and when battery swapping infrastructure is built.
Unlike in China, Reuters reported on transport ministry data that revealed India’s adoption of LNG-powered trucks is at an earlier stage, with only 645 of the vehicles operating in the country. However, the government as saying it aims to convert about one-third of its heavy truck fleet — over 7 million vehicles — to LNG in five to seven years, Reuters said, which experts called ambitious.
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“India will not have the same penetration rates as China, but improved infrastructure has reduced inefficiencies already, and Indian diesel demand growth may have peaked as a result,” said Amrita Sen, founder of Energy Aspects, in the Reuters report.
While Reuters said the Chinese and Indian governments are providing policy support for LNG trucks to reduce pollution, companies are attracted to the fuel by cost savings. According to industry experts, LNG trucks will become economical in both countries when the fuel is at least 20 percent cheaper than diesel.
That’s because of the current prices for such vehicles. Reuters cited global consultants ICF as saying a new LNG truck costs 40 percent more in India than its diesel counterpart, while Chinese research provider Horizon Insights said the vehicles are about 18 percent more expensive in China. The fuel savings could help operators recoup the higher up-front costs.
India also requires investments in fueling infrastructure. Reuters said that Mumbai-based GreenLine Mobility Solutions runs about 500 LNG-powered trucks and has ordered over 2,000 more.
“Where there is no network as of now, we are unable to pitch in,” said Kaizad Palia, COO for GreenLine Mobility. “We will expand our operations with the expansion of fuel stations in the country.”
Reuters cited a government official, speaking on the condition of anonymity, as saying India is supporting policies for more LNG trucking, aiming to have 66 LNG stations in a year compared with 20 now.
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