LNG, or liquefied natural gas, is a widely traded energy commodity. During 2022 and 2023, natural gas reserves in the Netherlands have depleted and Russian pipeline gas supplies to Europe have reduced significantly.
LNG imports to Europe from the US, Qatar, and Australia avoided an energy crisis over this period. The flexibility of the international LNG supply chain has been stress-tested and proven to be robust.
Revaporized LNG is widely used for power generation and heating. Natural gas has earned a reputation as a clean fuel. When fed to a combined cycle gas turbine, the power generation efficiency from natural gas can be as high as 70%. This is significantly more than coal-fired power generation and results in a lower CO2 intensity of power from gas than coal. High efficiency also contributes to low-cost power generation.
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