BAKU, Azerbaijan, February 16. In a recent analysis conducted by BMI, a Fitch Solutions company, the economic viability of natural gas continues to be a driving force behind the growth in gas-fired power adoption, Trend reports.
Despite encountering recent volatility, the market has witnessed a degree of stabilization in natural gas prices following a notable surge. While prices have not reverted to their previous lows and remain elevated in various regions, this moderation has bolstered the attractiveness of natural gas for utilities and industries seeking more predictable electricity costs.
Moreover, the expanding development of liquefied natural gas (LNG) markets emerges as a crucial factor amidst these periods of heightened prices. Advancements in LNG technology have notably enhanced the ability to transport and distribute natural gas globally, thereby alleviating historical geographic and logistic barriers that hindered its broader utilization.
In light of these advancements, BMI anticipates a rise in the adoption of natural gas, recognizing its evolving role in the global energy mix despite ongoing price fluctuations.
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