During 2021 global trade in liquefied natural gas (LNG) jumped 6% to 380m tonnes due to the economic rebound following the Covid-19 pandemic, according to Shell’s LNG Outlook 2022 report.
Published today (21st February 2022), the report also detailed the highly volatile nature of gas and LNG prices, contributed to by rising demands and supply constraints.
Record highs of gas prices combined with historically low storage levels have contributed to this volatility – an indicator that methods must be developed to secure a more reliable and flexible gas supply to avoid exposure to price spikes.
“Last year showed just how crucial gas and LNG are in providing communities around the world with energy they need as they strived to get back on track following the difficulties caused by the Covid-19 pandemic,” said Wael Sawan, Integrated Gas, Renewables and Energy Solutions Director, Shell.
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