Natural gas is an essential transition fuel in the global shift toward net-zero energy systems powered by renewable energy. Because of its flexibility and better environmental impact than coal and oil, natural gas will be the only fossil fuel to witness demand growth in the next three to four years.
Liquefied natural gas (LNG) is natural gas cooled into a liquefied state for easier storage and transportation. As a high-growth segment of the global natural gas market, LNG’s market share will expand dynamically from about 9.6% in 2021 to approximately 11.5% by the end of 2030.
LNG is rapidly becoming a mainstream alternative to piped gas. Its growth will outstrip the natural gas market growth as gas-consuming countries diversify their supply base while gas-supplying countries broaden their production and customer base. Europe will witness strong growth in natural gas imports as it attempts to reduce its reliance on Russia. Countries such as the United States, Qatar, and Australia will see export growth instead.
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