Liquefied natural gas (LNG) tanker is passing by Strait of Singapore.
BreakingOil & GasTop StoryTrending Story

LNG global trade rises 6% in 2021

350

 

The global trade in Liquefied natural gas rose 6 per cent to 380 million tonnes in 2021 on the back of higher demand as economies recovered from the coronavirus-induced slowdown and countries focused on cutting emissions.

China, the world’s second-largest economy, and South Korea led the growth in LNG demand in 2021. China surpassed Japan to become the world’s largest importer amid a strong rebound from the pandemic, with its imports growing by 12 million tonnes to 79 million tonnes, according to Shell’s latest annual LNG Outlook report obtained by Persecondnews.com.

“Last year showed just how crucial gas and LNG are in providing communities around the world with the energy they need as they strive to get back on track following the difficulties caused by the Covid-19 pandemic,” said Wael Sawan, director of integrated gas, renewables and energy solutions at Shell.

“As countries develop lower-carbon energy systems and pursue net-zero emissions goals, focusing on cleaner forms of gas and decarbonisation measures will help LNG to remain a reliable and flexible energy source for decades to come.”

LNG is natural gas that turns into a colourless and non-toxic liquid when cooled to about minus 162°C (minus 260°F). The cooling process shrinks the volume of the gas, making it easy to ship and store.

It can be used for cooking and heating, as a fuel for commercial vehicles, generating electricity, manufacturing products such as fertilisers, paints and medicines.

Global demand for LNG, which can contribute to better air quality and lower green house gas emissions in the power sector, is projected to grow by up to 5 per cent annually over the next 20 years.

This makes LNG ideal for the transition to a low-carbon energy future, supporting a mix of fuels that are expected to help countries to balance energy demand with their clean energy goals.

Leave a comment

Related Articles

Oil sector attracted $16.6bln investments under Tinubu administration – Lokpobiri

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has announced...

Breaking: Kano Assembly repeals Emirates Council Law

After scaling its third reading, the Kano State House of Assembly passed...

Democracy: Pres.Tinubu advocates bolstering Africa’s regional economic communities

Daniel Okejeme In a bid to promote commerce and integration, advance democracy...

Just in: Tinubu appoints Shehu Mohammed as FRSC Corps Marshal 

Daniel Okejeme President Bola Tinubu has appointed Mr. Shehu Mohammed as the...

Israel-Gaza war: US threatens ICC over move to arrest Israeli PM Netanyahu

Following the International Criminal Court’s prosecutor’s request for arrest warrants for Israeli...

Again, CBN raises Monetary Policy Rate to 26.5%

The Central Bank of Nigeria (CBN) has again increased the Monetary Policy...

Nigeria’s oil production nears 1.7mbpd – NNPC Ltd

Nigeria’s crude oil production is approaching 1.7 million barrels per day, according...

Breaking: Tragedy as Iran’s President Raisi, 8 others die in helicopter crash

All nine people on board of Iranian President Ebrahim Raisi’s helicopter which...

Nigeria’s Adekeye emerges chairperson, APPO Nigeria’s directors training institute

Mrs. Folashade Adekeye has emerged as the Chairperson, Forum of the Directors...

Breaking: Helicopter carrying Iran’s president crashes

A helicopter carrying Iranian President, 63-year-old Ebrahim Raisi, has reportedly suffered a...

FG appoints ex-Govs. Yuguda, Elechi, Shinkafi, Ngilari, APC’s lawyer, Olanipekun, others Chairmen of varsities’ governing councils

The Federal Government has announced the names of the Pro-Chancellors, Chairmen, and...

Fake News: No fire outbreak from our tank farm in Lagos—NNPC Ltd.

The Nigerian National Petroleum Company Limited (NNPC Ltd) has debunked a report...

NNPC Ltd. partners Nasarawa govt on oil, gas development

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said it is...

Just in: Court denies Binance executive Tigran Gambaryan bail

A Federal High Court sitting in Abuja has denied the bail application...

No attempt to illegally use pension funds for infrastructure development – FG

Minister of Finance Wale Edun has refuted claims that the Federal Government...

FG opens student loan application portal May 24

The Federal Government has announced May 24, 2024, as the official date...

Just in: Tinubu, Senegalese President, in closed-door meeting at Aso Rock

President Bola Tinubu is in a closed-door meeting with the new Senegal...

Breaking: Pres. Tinubu inaugurates three milestone gas infrastructure projects in Delta, Imo States

President Bola Tinubu inaugurated three landmark projects on Wednesday, which include the...

Pres.Tinubu set to inaugurate Kwale Gas Processing Plant (GPP-1)

President Bola Tinubu is set to inaugurate the three critical gas infrastructure...