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Energy Transition Forces LNG Industry To Cut Emissions | OilPrice.com
The green energy drive is changing the way LNG developers and sellers are planning for future projects as buyers are increasingly demanding proof that the cargoes they have paid for are “green”—that is, carbon neutral.
KEY INSIGHTS & CHALLENGES
- METHANE LEAKAGES: In just a few years, the image of natural gas markedly shifted from the bridge fuel of the energy transition to just another fossil fuel that emits an even more polluting and dangerous gas than carbon dioxide—methane.
- EMISSION FROM ENTIRE VALUE CHAIN: The wave of net-zero pledges from governments and businesses has shifted the focus of the liquefied natural gas (LNG) market onto the carbon footprint of the entire LNG supply chain— from the extraction and liquefaction of LNG to shipping, re-gasification, and emissions generated by end-users.
- CARBON CREDENTIALS: Over the past two years, amid the net-zero and clean energy push, LNG buyers have increased their scrutiny of the carbon credentials of the cargoes they look to contract.
- SHIFTING TRENDS IN LOW CARBON LNG: Beginning of a major trend in the global LNG market to make the ‘cleanest’ fossil fuel even cleaner by offsetting emissions with nature-based projects and directly reducing pollution at the liquefaction stage with carbon capture and storage (CCS) solutions.
BOTTOMLINE
Inevitably, the economics of future LNG projects will change. The banks and other capital providers will agree to finance the construction of LNG facilities only if they are coupled with emission-reduction technology.
Energy Transition Forces LNG Industry To Cut Emissions | OilPrice.com
As the global energy transition continues to accelerate, LNG sellers are being pushed to cut emissions
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