What is Liquefied Natural Gas ?
Natural gas is a safe, efficient, clean, affordable and reliable source of energy.
- LNG is natural gas in its purified and liquefied form.
- The natural gas is cooled down to transform it into a liquid that is about 1/600 of its original volume. This enables the product to be easily and safely transported by specifically designed vessels or by ISO tank containers.
- Natural gas is an colorless and odorless combustible that is composed almost entirely of methane.
- LNG is considered as the cleanest burning fossil fuel because it creates more than 45% fewer emissions than coal and oil.
- Liquefied Natural Gas (LNG) is use in the residential, commercial and indutrial sectors for different usage including: Cooking, Heating & cooling, Feedstock for manufacturing plants, Electricity Generation (Power plants), Fuel for transportation, etc
The LNG Market
The market is very dynamic and it requires liquidity, flexibility and transparency for it to function effectively and as it is for other commodities. Supply sources are important as well as to have multiple users and infrastructure for the distribution. Many LNG projects and receiving terminals are currently being build all over the world.
The LNG market is well-developed in USA, Canada, Europe and in Asia. The largest importers are Japan, China and Korea but other developing markets are also expected to increase their LNG imports and usage in the coming decades.
As of 2020, Qatar is the main exporter of liquefied natural gas, followed by Australia, Malaysia and the United States.
Why LNG is a preferred energy source in many countries ?
Because it is clean, abundant, affordable, efficient, versitle and reliable. Its use also mitigates some adverse climatic changes often attributed to the burning of fossil fuels. The abundance of supply makes LNG available at lower prices compared to energy content of other fossil fuels. In many countries, LNG is seen as the best and cleanest source of energy for the transition to renewable energy.
Considering current climate changes and higher pollution rates in many countries, we believe that LNG is the fuel of the future and for many generations to come.