In contrast to the IEA! GIIGNL: LNG will be needed for energy security in the coming decades

An industry group of importers on Monday stressed that liquefied natural gas will be needed for the next few decades to ensure adequate energy supplies even as the world shifts to cleaner energy. The International Group of Liquefied Natural Gas Importers, GIIGNL, said in a statement on Monday at its annual meeting in Hiroshima that regular investment was needed to meet growing demand in Southeast Asia and elsewhere, especially as Europe moves away from Russian pipeline gas. "Reduced investment will affect the ability of producers and consumers to access affordable, reliable energy and economic growth," the group said. The view echoes major energy producers such as Shell and Chevron, which claim natural gas will play a long-term role in the energy transition to intermittent renewable energy. However, the International Energy Agency expects demand for natural gas to peak this decade, so it does not need new long-term projects.