Bombshell Report Pours Cold Water On Global LNG Outlook

Bombshell Report Pours Cold Water On Global LNG Outlook
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When the European Union tied its pandemic relief plan to renewable energy generation and emissions reduction targets, analysts sounded an alarm for LNG as the production of the superchilled fuel involves a certain amount of greenhouse gas emissions. Now, Wood Mackenzie is warning that global energy transition goals could threaten more than two-thirds of the world’s supply of liquefied natural gas, leaving trillions of cubic meters of gas in resources stranded. This forecast is a stark departure from pretty much all gas demand projections, including from energy industry majors such as BP, which invariably see this demand growing as gas replaces oil as a less polluting fossil fuel, especially in developing economies. LNG is a form of natural gas that many believe is set for particularly strong demand growth because of its supply flexibility: while natural gas needs pipeline infrastructure, limiting options, LNG can be bought from anywhere in the world and delivered to a port with a regasification terminal. But if governments decide to double down on their climate change targets and start aiming for the more ambitious 2-degree scenario under the Paris Agreement, LNG growth will suffer. The so-called 2-degree scenario refers to efforts aimed at curbing […]

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