Natural Gas Intelligence: Declining Output, Lack of New Capacity Set to Test European LNG Imports in 2023

Still, Poten & Partners consultant Majed Limam said the global gas market will continue to grow for the foreseeable future. He noted that the LNG trade has grown on average by 7% annually between 2000 and 2022, outpacing most other commodities.

“Renewables need backup until batteries catch up and utility-scale economics work,” he told the audience. “Gas is going to play a key role, LNG in particular, because of its flexibility. A lot has to happen for Europe to do what it needs to replace Russian gas.”

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