- These greenfield investments are 200 times the amount in 2020, when just US$2bn was invested in LNG developments due to the pandemic.
- The new LNG projects are driven mainly by a short-term increase in natural gas demand in Europe and Asia due to Russia’s war in Ukraine and ensuing sanctions placed on Russian gas exports.
- Natural gas is a core component of many countries’ power generation systems and, although there is a determination to reduce fossil fuel dependency and transition to a low-carbon power mix, demand for LNG is set to grow over the short term.
investments set to peak in 2024
