Overview of the project
LNGnet is a three-year project (financed by the European Union) focused on the further evolution of the global LNG market, particularly in the context of the energy transition towards decarbonisation and climate neutrality.
The project has been launched in Spring 2021 to promote conditions for liquid, flexible, transparent and more sustainable global LNG trade. In addition, the project wants to enhance international cooperation to mitigate methane emissions along the LNG value chain as well as contribute to international outreach on the perspectives for renewable and decarbonised gas supplies.
The Project operates within the framework of the EU’s long-term objective of a climate-neutral economy, while reckoning that natural gas will play an important role in the world’s energy supplies during the next decades, with LNG representing a growing share of natural gas trade contributing to the diversification of sources and destinations and increasing the overall natural gas trading security.
In the years ahead, while the EU is transitioning towards its 2050 climate neutrality target and will propose and implement measures to enhance the uptake of renewable and decarbonised gases, fostering a transparent, flexible and liquid global LNG market that can react quickly and efficiently to market changes and that can supply the evolving gas demand with a lower carbon footprint and at competitive prices, is important to ensure the EU’s energy supply at affordable prices.