...

LNG market is very tight despite several years of significant investment - Woodside Energy

Oil&Gas Materials 24 March 2022 12:28 (UTC +04:00)
LNG market is very tight despite several years of significant investment - Woodside Energy
Laman Zeynalova
Laman Zeynalova
Read more

BAKU, Azerbaijan, March 24. Obviously, today’s LNG market is a very tight one despite several years of significant investment, Meg O’Neill, CEO, Woodside Energy said at the IEA ministerial, Trend reports.

She noted that there has been tremendous new LNG supply that has been brought online from the US, for example.

“But these projects don’t come online overnight. They need time to develop new gas resources and new LNG infrastructure for years. Many of the nations that are members of the IEA have the opportunity to set the policy framework in a way that accelerates the ability of investors to move new projects forward by addressing some of the bureaucracy that slows things down. I think the question of how LNG can translate over time into hydrogen is fantastic one. We think about our business. Today we export liquefied gas to customers largely in Asia. We look into ways of reducing emissions in our LNG facilities. Customer wants energy that is reliable, affordable and lower carbon. If we try to raise to zero carbon at the expense of our reliability or affordability, we are going to lose the customers. So, in our mind, the path to a greener future is the one that will take logical steps. That might me through a blue pathway initially, to get the customers using the product, to give the supply chain time to drive the cost improvement,” added Meg O’Neill.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest