Liquefied Natural Gas Value Chain: A Comprehensive Review and Analysis

Abstract

AbstractOver the past few decades, the liquefied natural gas (LNG) business has experienced astounding expansion and gained global relevance. LNG has emerged as a key element in meeting the world's rising energy demand while working to cut carbon emissions, since it is a cleaner and more adaptable energy source. The entire process from natural gas extraction to consumption is covered in the presented analysis of the LNG value chain, starting out by looking at the discovery and production of natural gas reserves, highlighting important innovations and methods used during the extraction stage. The procedures used to treat and purify natural gas in order to meet the strict standards for liquefaction are detailed. Analysis of the liquefaction process reveals numerous liquefaction technologies, e.g. the well‐known conventional liquefaction and the cutting‐edge floating LNG and small‐scale LNG facilities. LNG storage and transportation, as critical components in the value chain, are examined in great detail. When the LNG reaches its destination, regasification plays a crucial role in repurposing it as a gas for distribution and consumption. Regasification technologies, such as conventional onshore terminals, floating storage and regasification units, and land‐based regasification facilities, are covered. Concerns regarding methane emissions and the carbon footprint, the potential for reducing greenhouse gas emissions through new technology, the environmental impact of LNG, and the economics of LNG are also considered across its value chain.