LNG rates have dipped below fuel oil, encouraging its use in power generation. Read more at straitstimes.com.
helping replace more polluting fuels while easing cost pressures on the economy.
“The return of LNG prices to more normalised levels benefits emerging markets the most, as their energy affordability and availability was most impacted by the LNG price spikes last year,” said Mr Saul Kavonic, a Sydney-based energy analyst at Credit Suisse Group AG. “Emerging markets, particularly in South and South-east Asia, are the core drivers of LNG demand growth over the next 10 years.”
Still, producers will be wary of leaning too heavily on this demand. The increased consumption may not be enough to overshadow potential long-term weakness in regions such as Europe. Many governments are pushing for renewables in an effort to tackle climate change and calling for reduced gas use. While less polluting than coal or oil, burning gas still emits carbon.
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