The liquid natural gas (LNG) industry has always been a volatile market, even as it continues to grow and offer businesses more opportunities to save energy. LNG remains one of the world’s fastest-growing fuel resource, as demand has increased following the coronavirus pandemic. Thanks to LNG, natural gas is much more readily available, as it’s transported around the globe in huge tankers, making it a convenient option for businesses and gas producers.
With temperatures rising around the globe, there’s no doubt that energy businesses need to focus their efforts on natural gases to lower the environmental impact. Compared to fossil fuels, LNG has a much brighter future. If managed successfully, the implementation of LNG can improve environmental performance. Let’s take a look at the ways LNG is positive for the global environment and why energy businesses should make natural gas a top priority.
LNG reduces greenhouse gas emissions
LNG is used across many business sectors within the industrial sector, including commercial, marine and road transport – and it’s a clean-burning, low carbon fuel that’s much more efficient and easier to transport. LNG has proven to be better than any other fossil fuel for the environment, as it generates 30% less carbon dioxide than fuel oil and 45% less than coal. The combustion of natural gas evaporates much more quickly in the air, compared to traditional heavy fuel oils, leaving no particles or residue.
This also means there’s far less spreading of oils after LNG spills because it dissipates quickly into the atmosphere. While LNG still does have an environmental footprint, it contributes to far fewer carbon emissions. Data from the Energy Information Administration shows that since 2006, increased use of natural gas has driven carbon dioxide savings. There’s no doubt LNG has played a great role in reducing CO2 emissions globally, and as a cleaner fuel, it’s expected to eventually replace traditional fuels for power generation.
Consistency and reliable supply
Since LNG is a natural gas that has been cooled down to liquid form, it’s much more reliable and can be transported in large quantities. As well as saving on carbon emissions, LNG has a higher energy density, which means more energy can be stored and transported for the same amount of volume. The LNG market has fluctuated over the years, but LNG producers have been able to keep up with the demand. However, production companies need to shift how they conduct business if they truly want to capture the true potential of LNG, as well as to help the save environment. This could include optimising the supply chain, using more energy-efficient equipment, and constantly be on the look-out for energy-saving options.
Cleaner atmosphere and more efficient
LNG contributes to cleaner air in several ways. For example, natural gas burns extremely efficiently, producing mainly heat and water vapour, and it’s much more cost-effective. According to research, natural gas releases 56% fewer greenhouse gases than coal for the same amount of electricity. However, natural gas has often raised concerns because it is made up of mostly methane, which is nearly just as potent as greenhouse gases – and methane emissions are the second largest cause of global warming. Fortunately, we’re in an age where gas transition and distribution companies have the opportunity to utilise technology to help improve productivity and lower the carbon economy. There are a range of new technologies, like microscopic nanotubes that can reduce carbon emissions. In this digital era, LNG producers have plenty of opportunities to apply data and analytic techniques to optimise operations, reducing costs and energy as a result. Above all, LNG has a range of benefits for the environment and according to research, natural gas is one of the main reasons carbon dioxide emissions are at their lowest in almost 25 years.
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