In Search of Equilibrium: LNG Supply and Demand

Earlier today, 19 March 2025, the International Gas Union’s (IGU) Director for Strategy and Advocacy, led a panel discussion during eFlame Infocus series on whether an equilibrium had been reached with regard to the current global LNG supply and demand.

Moderated by James Waddell, Head of European Gas and Global LNG at Energy Aspects, the panel discussion led by McCrory was also attended by Ana Stanic, Founder of E&A Law and George Tijbosch, CEO at MiQ. Considerable focus was given by the panel to the legal and regulatory complexities surrounding current gas supplies to Europe,  including  potential sanctions that may  be imposed – or lifted - on Russian imports and the EU methane regulations coming into effect on gas importers to Europe.

Asked about the current competition for  global LNG supplies  that   has maintaining high prices, McCrory argued that “since overall gas demand will be high due to LNG’s flexibility and  consistent Asian energy demand growth, we need to continue to invest in LNG supply and infrastructure to meet this demand into the 2030s – given that Final Investment Decisions (FIDs) for new LNG capacity take 5-10 years to deliver their first LNG cargoes”

On the aspects surrounding the range and flexibility of Gas applications across industries globally and for individual consumers, McCrory added that “applications like the LNG trucking growth spurt that we currently see in China,  and the remarkable ramping up of the  order book for large LNG dual-fuel powered vessels, are clear evidence of natural gas’ ability to not only provide secure and reliable baseload supplies but, also, to act as an immediately available,  lower-emissions fuel in a growing variety of applications to  meet the ever increasing energy demand globally”.