Investments in new liquefied natural gas (LNG) infrastructure are set to peak at $42 billion annually in 2024. These greenfield investments are 200 times compared to the amount in 2020 when only $2 billion was invested in LNG developments due to the pandemic. This rise is driven mainly by a short-term increase in natural gas demand in Europe and Asia due to the Russia-Ukraine conflict and the restrictions imposed on Russian gas exports. Project approvals after 2024 are expected to slow down as governments transition away from fossil fuels and accelerate investments in low-carbon energy infrastructure.
- Global LNG investments to hit $42 billion in 2024