GIIGNL issues press release on the need to facilitate long-term agreements, investments and all possible measures in LNG to safeguard energy security, economic stability and decarbonization

March 3, 2022

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Today, GIIGNL issued a Press Release which states that facilitating long-term agreements, investments and all possible measures in LNG is critical to energy security, economic stability and decarbonization. 

GIIGNL highlights that energy security issues are becoming a major concern in Europe and are increasingly spreading to other regions,  notably as a consequence of the Russia-Ukraine conflict. It also states that  LNG’s reliability and flexibility are pivotal to energy supply security and diversification and that LNG has the potential to support social and economic stability while progressing net zero ambitions.

The Press Release also mentions that GIIGNL and its members are fully mobilized to work with governments, LNG producers and other relevant stakeholders in order to ensure a stable supply of LNG and preserve LNG’s affordability.

Jean Abiteboul, President of GIIGNL:

“The recent Russia-Ukraine conflict is highlighting the importance of energy supply security and diversification. The LNG market is growing quickly and the recent price hikes indicate a structural imbalance between demand and supply growth. On the pathway to a decarbonized world and in the face of looming energy shortages, cooperation between importers, governments and producers is urgent in order to fast-track investments in all stages of the LNG supply chain and to implement all possible measures to guarantee reliable LNG supplies”

Read the full Press Release here