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Supply
There are many, diverse LNG supply sources, and LNG is predicted to be more readily available in the next 15 years than oil or coal.
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The current oversupply, which is anticipated to increase over the medium to long term, along with the market diversity means that LNG has significantly better price dynamics than other fuels. The price indexation is projected to deviate from traditional oil indexation, which will increase the stability of the gas pricing market.
The storage sizes of the LNG floating unit also allows for capacity to derive greater economic benefit from the fuel.
Environment
Natural gas is the cleanest fossil fuel on the planet.
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Natural gas does not pose spillage risks as it does not contaminate water bodies or soil – if exposed to the environment it simply evaporates. It is significantly cleaner than Heavy Fuel Oils (HFO) and Diesel, with a ~45% lower carbon dioxide (CO2) footprint than HFO.
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The use of an FSU dramatically reduces potential negative impacts on the shoreline. The technology needed to re-gasify and transport the gas is simple, further reducing negative impacts.
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Gas is an extremely efficient fuel source - a natural gas power plant has a greater than >95% availability with low maintenance and stop start penalties, and natural gas used for domestic cooking is 93% efficient compared to 28% for conventional electric cooking.
Market
Natural gas can be used to generate power – natural gas complements renewable power as mid-merit dispatchable power to ensure grid stability. Gas can also be used to replace diesel as a source of off-grid power for mines and remote communities.
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Natural gas is also as a fuel for desalination plants, fired boilers, and for heating, drying and melting.
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Natural gas is cheaper than diesel and vehicles, machinery and equipment can be converted to operate on natural gas fuel.
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In the domestic market, clean-burning, high-efficiency cooking fuel in the form of natural gas could be integrated into smaller communities and urban hubs.