Rising demand for liquefied natural gas (LNG) means it is a “destination rather than transition fuel”, delegates attending ADIPEC in Abu Dhabi heard today.
In a panel discussing natural gas and LNG demand and supply, Matthew Schatzman, Chairman and CEO of NextDecade Corporation, said, “LNG has a long runway. It is the right fuel right now for the kind of demand growth we’re now seeing. We don’t do these for three or five years – these are 40-year assets.”
Last month NextDecade took a final investment decision , a Texas-based export project with an annual capacity of six million tonnes.
Schatzman said demand is there and many customers have signed long-term contracts.
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