Commodities
Oil Majors Commit to LNG Investments Amid Growing Demand
Major oil and gas producers will continue to invest in liquefied natural gas (LNG) projects, executives said on Monday. The companies see new supply as essential to bring down prices and meet growing long-term demand.
According to oil firm executives, the construction of an LNG terminal at Mukran port in Germany is expected to be completed by 2024. This infrastructure will help increase the supply of LNG, a key goal for major producers.
The investment in LNG projects is driven by growing long-term demand for natural gas. Oil majors will continue to invest in these projects as they see new supply as essential to meet this demand and bring down prices.