LNG market: what can Turkmenistan offer in response to growing demand?
Among the production indicators of the fuel and energy complex of Turkmenistan in the first quarter of this year, the outpacing growth rate of liquefied gas production, provided at the level of 117.9%, is noteworthy. This can help strengthen the country's export potential in the context of the growth in global demand for liquefied natural gas (LNG), noted by experts. Shell's annual LNG forecast for 2025 notes that by 2040, global demand for liquefied natural gas will increase by about 60%. The main reason for the growth will be the economic recovery in Asia, as well as the introduction of artificial intelligence and efforts to reduce emissions in heavy industry and transport.
Compared to the previous forecast, the assessment of the world's largest LNG trader has increased, which is due to the growing demand for natural gas around the world, which is switching to more environmentally friendly fuels. “The world will need more gas for power generation, heating and cooling, industry and transport to meet growth and decarbonization targets, according to updated forecasts,” profinance.ru quotes Tom Summers, Shell’s senior vice president for LNG marketing and trading. Europe’s LNG demand is expected to grow in 2025 and beyond to balance the growing share of intermittent renewables in its power sector.
In Europe's new strategic course in relations with Central Asia, which was outlined by the first EU-Central Asia summit, priority is given to energy cooperation. On the eve of the summit, visiting senior fellow of the German Marshall Fund Markus Ziner in the Euronews program dedicated to the upcoming meeting called energy the main issue. Speaking about new sources of oil and gas imports, he said "Turkmenistan, for example, is one of the major gas suppliers." Turkmenistan has repeatedly stated its readiness to supply gas to the European market through various options and routes for exporting "blue fuel" to EU countries. This was once again confirmed in a recent exclusive interview of National Leader of the Turkmen people, Chairman of the Khalk Maslakhaty of Turkmenistan Gurbanguly Berdimuhamedov to a Euronews TV channel correspondent.
