WHY DOES THE WORLD NEED
Why Does the World Need LNG?
Natural gas is the cleanest burning of all fossil fuels with CO2 emissions half that of coal. As it can easily replace coal and other high emissions fossil fuels, LNG has immediate value in helping committed businesses and governments meet important near-term carbon emissions targets. All major forecasts point to natural gas remaining in the energy mix for decades to come, largely due to technical and resource constraints that limit just how rapidly renewable energy projects can be ramped up. With the evolution of carbon capture technology LNG will likely be a long-term contributor to net zero goals.
Why LNG Now?
Major demand increase is expected to 2040
Global march to decarbonization and Net Zero favours LNG
Major coal to gas switching, especially in China and India
Population growth and modernization of developing countries is driving additional demand
Geopolitical need to diversify supply – Germany imports 94% of its gas and greater than 30% of that is from Russia
Germany’s decision to abandon nuclear power generation by end of 2022 has increased their appetite for LNG