At the 25th World LNG Summit in Istanbul, Nigeria LNG Limited (NLNG) called for stronger international cooperation to stabilize LNG supply chains, improve market affordability, and support energy development despite global geopolitical and trade challenges.
Philip Mshelbila, Managing Director and Chief Executive Officer of NLNG, stressed the urgent need for coordinated efforts within the LNG industry to avoid an energy gap and to keep natural gas relevant in a balanced low carbon future.
Speaking during a panel session on energy expansion in a challenging global trade environment, he explained that LNG contracts must continue to evolve to address sovereign risks by diversifying supply sources and delivery routes.
Mshelbila cautioned that if issues such as supply constraints, pricing pressures, financing difficulties, and decarbonization are not resolved, global energy growth could be hindered. He highlighted the renewed interest in long term LNG contracts since 2022 due to rising market uncertainties.
He also noted the expansion of capacity in the United States, Qatar, and NLNG’s Train 7 project, which is expected to add eight million tonnes per year, as essential for meeting increasing global demand.
However, he emphasized that affordability remains a serious challenge, pointing out that high LNG prices have pushed some developing countries back to coal and other less environmentally friendly energy sources.
The World LNG Summit continues to serve as a key platform for industry leaders to share insights on policies, innovations, and future directions in the LNG sector as global dynamics evolve.
