Liquefied Natural Gas (LNG) has the potential to turn the natural gas market into a truly global one, thus allowing natural gas to play a full role in transforming the energy system to underpin a sustainable future, the United Nations Economic Commission for Europe (UNECE) said in a statement.
In addition, in view of the uncertainties caused by recent geopolitical developments in Europe and the Mediterranean basin, LNG can improve regional and global energy security. These objectives can only be met if governments implement enabling policies that are clear, transparent and stable over the long-term.
These are the main findings of the study on the Current status and perspectives for LNG, completed by a team of international experts working under the auspices of UNECE, released on Tuesday in Geneva.
The study finds that:
Regional trends
The study also identifies a series of challenges:
There is a huge body of knowledge on operational issues regarding LNG that must be normalised and disseminated if LNG is to become a truly global industry. Players throughout the LNG chain, including regulators, should be encouraged to standardize and exchange information. Such efforts would improve compatibility and efficiencies and maintain safety levels throughout the industry.
[mappress] Source: UNECE, April 16, 2014