This year, the LNG business celebrates its diamond jubilee – 60 years since the 27,400 cm Methane Princess shipped the first commercial cargo of LNG from the Arzew liquefaction plant in Algeria to the Canvey Island terminal in the UK, which received it on 12 October 1964. According to GIIGNL data, that year recorded just 0.11 mt of LNG traded; this year, traded volumes are expected to hit 407 mt.
This historic milestone comes at a time when views on the future of the LNG sector are splintering and becoming increasingly contentious, particularly on when LNG demand is likely to peak. At the same time, decarbonisation pressures are favouring projects that have a “greening” component factored in from the start, while renewable solutions, such as bio-LNG, are rising in profile, industry sources tell LNG Business Review.
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