South America LNG Bunkering Market Size (2024 - 2029)

South America LNG Bunkering Market Size Summary

The South America LNG bunkering market is poised for steady growth over the forecast period, recovering from the setbacks experienced during the Covid-19 pandemic. The market's expansion is driven by increased investments in LNG bunkering infrastructure and facilities, despite facing challenges from the growing adoption of alternative low-sulfur fuels like Marine Gas Oil and Low-Sulfur Fuel Oil. The region's strategic position, with significant oil-producing countries such as Brazil, Venezuela, and Argentina, and its proximity to major trade routes, offers substantial potential for LNG bunkering activities. The development of small-scale LNG infrastructure presents further opportunities for market growth beyond the forecast period.

Brazil stands out as a key player in the region, with its substantial crude oil and natural gas production contributing significantly to the LNG bunkering market. The country's efforts to enhance its hydrocarbon production and the establishment of partnerships for LNG shipping and bunkering solutions underscore its emerging role in the market. While Brazil leads in LNG bunkering activities, other South American countries are gradually catching up, with initiatives like the MoU between CB Fenton and Kanfer Shipping to establish an LNG bunkering hub in Panama. The market remains consolidated, with major players such as AES Corp, Engie SA, and Avenir LNG Ltd actively participating in the region's LNG bunkering developments.