Even though 2020 was an unprecedented year for LNG and gas markets, the post-pandemic recovery could begin as soon as 2021, according to Steven Kobos, president and CEO of Excelerate Energy, a U.S. LNG company based in The Woodlands, Texas.
“I am very bullish on the post-pandemic recovery. We’re going to see massive drivers and will have a very bullish market that will drive U.S. LNG,” Kobos told Hart Energy’s Faiza Rizvi.
He also noted that natural gas will play a significant role in the energy transition journey as a bridging fuel to renewables. “Let’s face it—what we do with LNG is critical,” he said. “It displaces coal, which is concentrated carbon and accounts for 39% annual CO₂ emissions. We have to get away from coal-based power generation and LNG is a critical part of doing that, especially in emerging markets.”
Additionally, he discussed LNG’s role in fighting energy poverty and noted how Excelerate has taken up the mission to provide emerging economies access to affordable and reliable energy.
“The impact [LNG] has on developing and emerging markets, to feed their economies is just amazing,” he said. “The moment we started providing reliable gas to southeast Bangladesh, we saw power plants that were idled come online, we saw steel plants helping local energy come online, we saw urea production come back online to help local farmers.”
Discussing the future trends of the LNG market, Kobos said LNG will be a “safety net” for the transition to renewables, adding that it’s going to be a viable fuel for everyone, not just emerging economies. “LNG is a bridge or a perfect complement to renewables and gives confidence to people to devote more renewables to their energy mix,” he said.
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