Hydrogen could undercut the LNG market

More than three quarters of the LNG supply could be impacted as the 2-degree scenario becomes more pressing and the move to even more sustainable fuels is in the cards.

Photo: Bloomberg/Bloomberg

77 percent of new LNG supply is under threat from more sustainable and renewable alternatives, such as green hydrogen, in the race to keep global warming at bay, shows a new report from energy research and consultancy firm Wood Mackenzie.

The report states that in the current 2-degree scenario, demand for gas will be pressured as the power sector increases its investments in renewables and energy storage, while non-power sectors have adopted new technologies and improved the efficiency of existing tech.

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