In the months since Russia invaded Ukraine, which aggravated an already volatile global gas market, the spotlight has fallen on LNG. Europe’s imports more than doubled year on year in the first nine months of 2022, as gas consumers – including the EU’s biggest, Germany – turned to LNG as an emergency alternative to Russian pipeline gas supplies. At the same time, discussions over the shelf life of LNG and its role in the energy transition have not abated.
Supporters of carbon capture and storage (CCS) believe that this solution, tied to liquefaction projects, can allow LNG to maintain a central role in a decarbonised energy mix for longer than anticipated. But overall criticism over the effectiveness of CCS is mounting, with observers expressing concern over whether decarbonisation projections are being too optimistic when factoring in CCS as a key tool to abate emissions.