LNG as a bridge fuel in the transition to renewable energy: A global perspective

Abstract

The global energy landscape stands at the precipice of transformation, with a growing consensus on the imperative to shift towards sustainable and renewable sources. Amidst this transition, Liquefied Natural Gas (LNG) emerges as a pivotal bridge fuel, strategically positioned to facilitate the journey towards renewable energy. This review encapsulates the essence of the comprehensive review, delving into the global perspective on LNG's role as a bridge fuel in the renewable energy transition. The narrative unfolds with a contextualization of the pressing need for a renewable energy transition, acknowledging the escalating environmental concerns and the imperative to reduce carbon footprints. It then seamlessly transitions to the concept of LNG as a bridge fuel, elucidating its capacity to serve as a cleaner alternative to traditional fossil fuels and its role in mitigating the challenges associated with intermittent renewable energy sources. Examining LNG's significance on a global scale, the review navigates through key aspects. It scrutinizes the environmental considerations and carbon reduction goals that position LNG as a pragmatic choice in the decarbonization journey. The analysis extends to policy factors influencing LNG demand, unraveling the intricate tapestry of governmental initiatives supporting its adoption and the dynamic interplay with renewable energy policies. Economic drivers take center stage in the exploration of LNG's role as a bridge fuel. The review investigates the cost competitiveness, market dynamics, and the industrial demand propelling its consumption. The comprehensive examination encompasses the expansion of global LNG production capacity, featuring key exporting nations and the technological innovations transforming LNG production processes. Regional dynamics further enrich the narrative, providing insights into LNG's impact on major economies across Asia-Pacific, Europe, and North America. The review culminates in a nuanced exploration of the geopolitical implications surrounding LNG trade, emphasizing its role in geopolitical events, trade agreements, and potential risks for stakeholders. In essence, this review serves as a guide to stakeholders, policymakers, and industry players navigating the complex interplay between LNG and renewable energy in the global quest for a sustainable energy future.