LNG: the fuel of choice
Despite supplying only 11% of the global demand for natural gas, liquefied natural gas (LNG) has become a vital resource for many developing nations and is now the fastest-growing gas supply source. This colorless, non-toxic and non-flammable liquid is formed when natural gas is cooled to -162 ºC, causing its volume to be compressed to about 600 times in the process, making it easier and safer to store and ship. LNG is transformed back into its gaseous state at regasification plants upon arrival at its destination, and is consequently delivered into homes, businesses and industries. It is burnt for heat and generating electricity, while its various industrial uses include feedstock for petrochemicals and fertilizers.
Weather has been proven to be a key driver of the fuel’s use around the world as the number of LNG cargoes can be easily adjusted to meet seasonal demand peaks for cooling or heating.