LNG Risks Span From Russia Sanctions to Aging Plants, Group Says
- A quarter of global LNG plants is more than 20 years old: IGU
- Shipyard bottlenecks and US licensing pause add to uncertainty
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The global market for liquefied natural gas faces supply uncertainty from factors including sanctions on Russian fuel, aging plants and attacks on vessels in the Red Sea, according to the International Gas Union.
US sanctions on Russia’s new Arctic LNG-2 project have caused all foreign shareholders to suspend their participation, and “even currently operational projects may have issues producing spare parts of maintenance,” the industry group said in its latest World LNG Report published Wednesday.