LNG report 2023 – a detailed look at a tumultuous year


LNG is a key transitional fuel, and in 2022 there was a huge amount of activity and upheaval. Christian Annesley shares the key developments from last year and looks ahead

Liquified natural gas (LNG) is an important transitional fuel as the world targets Net Zero, being lower carbon that other fossil fuels. As such, it is part of the landscape for cleaner fuels in 2023, even if it is not a renewable. It has been a significant two years for LNG, following Russia’s invasion of Ukraine in early 2022, and the ongoing conflict, which has upturned the global order in relation to LNG, with Russia, through Gazprom, having previously been a leading supplier to Europe. 

For North America, let’s remember, Russia’s pariah status with Europe and some others has created a sizeable opportunity in LNG supply. And some of our look here at the global LNG market will be focused on the North American dimension, for obvious reasons. 

Most of the research and insights shared here derive from the International Gas Union’s (IGU) 2023 World LNG Report, supplemented by information from Shell’s LNG Outlook 2023 paper. Check out the footnote entry for where both can be found online.1

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