[co-author: John Sutter]
The LNG industry is at a crossroads: despite LNG’s carbon benefits over coal and petroleum products, it is being reconsidered by governments, financial institutions, and NGOs as a “transition” fuel to a lower-carbon economy. LNG players are responding by sourcing responsibly-produced gas, purchasing offsets, and planning on-site carbon capture and storage to mitigate or fully eliminate lifecycle GHG emissions. Carbon-neutral transactions are forecasted to quadruple in 2021 amid a rising ESG focus.
As emissions mitigation strategies are deployed globally, the LNG sector enters a new era of opportunities and risks. Despite the numerous advantages and flexibility that natural gas offers in meeting growing global energy needs, it’s no longer a given that LNG will be perceived as a “transition” fuel to a lower carbon economy.
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