Natural gas and LNG

Natural gas supply and demand have both grown rapidly over the past 10 years, and we expect the fuel to continue playing an important role even through the Energy Transition.  Natural gas discoveries have proliferated in the recent decades and its production from shale gas and other onshore and offshore assets have become very cost competitive.

Further, midstream infrastructure has kept pace with capital investments made globally.  As a result, the installed base of midstream capacity has grown worldwide including gathering lines, gas processing plants, natural gas liquid (NGL) fractionators, sulfur recovery, carbon dioxide (CO2) and acid gas removal, regional and international transmission pipelines, and local distribution pipelines.

Climate change and environmental concerns coupled with rising cost competitiveness has led to rapid growth in the supply and demand for liquefied natural gas (LNG).  As a result, a lot of capital has been invested across the LNG value chain globally including liquefaction, shipping, and regasification infrastructure.

Natural gas and LNG, however, face numerous challenges going forward.  A key concern is whether the fuel will continue to be a competitive source of energy in the Energy Transition.  Ensuring a role for natural gas in 2040 and beyond will require improvements to its cost, supply, operational, and, most importantly, sustainability competitiveness.  Specifically, industry players will have to cut and stop natural gas flaring and fugitive emissions, improve the efficiency of natural gas utilization, and broaden the fuel’s applications through small-scale LNG and compressed natural gas (CNG).

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