NLNG Advocates Global Cooperation For Sustainable LNG Growth At World Summit
At the 25th World LNG Summit in Istanbul, Turkey , Nigeria LNG Limited (NLNG) advocated for enhanced international collaboration to strengthen LNG supply chains, improve market affordability, and support energy growth amid global geopolitical and trade challenges.
According to a statement, Philip Mshelbila, NLNG’s Managing Director and CEO, highlighted the urgent need for coordinated action across the LNG sector to prevent an energy divide and maintain natural gas’s role in a balanced, low-carbon future.
Speaking on the panel “Energy Expansion in a Challenging Global Trade Environment,” he emphasized evolving LNG contracts to manage sovereign risks through diversified supply sources and delivery routes.
Mshelbila warned that without addressing key issues such as supply bottlenecks, pricing challenges, financing, and decarbonization, global energy expansion could stall. He noted a shift back towards long-term LNG contracts since 2022, driven by increasing market risks.
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He pointed to ongoing capacity increases in the U.S., Qatar, and NLNG’s Train 7 project, which aims to add eight million tonnes per annum, as critical to meeting rising demand.
However, he stressed that affordability is a pressing concern, as high LNG prices have forced some developing countries to revert to coal and other less environmentally friendly fuels.
Mshelbila warned that without addressing key issues such as supply bottlenecks, pricing challenges, financing, and decarbonization, global energy expansion could stall. He noted a shift back towards long-term LNG contracts since 2022, driven by increasing market risks.
He pointed to ongoing capacity increases in the U.S., Qatar, and NLNG’s Train 7 project, which aims to add eight million tonnes per annum, as critical to meeting rising demand. However, he stressed that affordability is a pressing concern, as high LNG prices have forced some developing countries to revert to coal and other less environmentally friendly fuels..
The World LNG Summit remains the premier forum for industry leaders to discuss policies, innovations, and future directions in LNG amid evolving global dynamics.