Wednesday, 11 May 2016

LNG in the global energy market, explained (Fatema Alhashemi, Brookings)

Pipes carrying liquefied natural gas are seen on a tanker in the Mediterranean, some 10 kilometers from the coastal Israeli city of Hadera January 22, 2014. Permanently anchored in the choppy waters of the eastern Mediterranean, the tanker Excellence is in a constant state of alert, waiting for the emergency phone call that Israel needs fuel. The gas, imported and stored in liquid form on the tanker, can be "regassified" and pumped through a special buoy into an underwater pipeline, providing the Israeli Electric Corp its auxiliary supplies. Picture taken January 22, 2014. REUTERS/Baz Ratne

Energy markets are witnessing exciting, almost transformational times. At a Brookings Doha Center event on April 21, experts discussed the ongoing transformations in the liquefied natural gas (LNG) market. As Sultan Barakat, senior fellow and director of research at Brookings Doha, noted at the outset, the increasing availability and decreasing price of LNG is key to that transformation: it has allowed countries to diversify energy sources, meet demand spikes, and transition from outdated fuel sources to modern renewables. LNG is an important transition fuel that will facilitate a shift towards cleaner energy, but there is still some hesitancy on the consumption of natural gas (China, for one, is considering a return to coal).

http://www.brookings.edu/blogs/markaz/posts/2016/05/10-lng-global-energy-market-alhashemi

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