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As global LNG demand will continue to increase in the foreseeable future, the supply of “greener LNG” may give producers an edge in this booming market. Total, a French oil and gas giant, and Siemens, Germany’s natural gas and power sectors are currently working together on research, and both companies will benefit greatly at that time.
Reducing greenhouse gas emissions from LNG liquefaction facilities, improving the reliability, maintainability, compliance with regulations and reducing development costs of LNG liquefaction plants are the objectives of the two companies. With the introduction of strict government regulations and enterprise directives, the production of decarbonized LNG can meet more demand for this fuel. As the cleanest fossil fuel, the European Commission regards it as an excellent alternative to reducing emissions and tackling climate change.
As we see in green hydrogen, some countries have begun to commit billions of dollars to deal with climate change. In order to achieve these goals, the United States has always been particularly interested in LNG, because there is sufficient domestic natural gas supply to increase exports.