GIIGNL EC issues Declaration
April 11, 2022
Following its Executive Committee held on April 11, GIIGNL issued a public declaration in which it states that further facilitation and strengthening of LNG trade is paramount given the increasing role of LNG in ensuring energy security and emission reduction worldwide. It also expresses the urgency to expand LNG supply capacity, since demand for LNG imports is forecasted to continue to increase.
GIIGNL calls for obstacles to LNG imports to be mitigated and resolved through mutual understanding and cooperation, and asks for policy and financial support from governments and public institutions to encourage technological development and LNG contracts in order to underpin final investment decisions in the LNG value chain. Protection mechanisms should also be implemented to reduce LNG importers and consumers’ exposure to the potential rise in LNG procurement costs.
Lastly, GIIGNL warns that if the adequate environment for LNG investments is not created, many countries could face energy security issues or could switch to burn more coal and oil, compromising the mitigation of climate change and the attainment of net-zero ambitions.
Read the full Declaration here:
