Liquefied natural gas ((LNG)) is used for generating electricity, especially during periods of high demand for heating and cooling.
LNG is now also emerging as a cost-competitive and cleaner transport fuel for shipping as well as heavy-duty road transport.
The LNG market was imploding before the arrival of the coronavirus pandemic because of supply-side pressures, as the glut in global supply started to build at the start of the year even before oil faced its own crisis.
Two years of warmer-than-expected winters had weakened demand for LNG for home heating and power generation. This resulted