Why Speed Is Key to Driving the World’s Liquefied Natural Gas Future Name?

Why Speed Is Key to Driving the World's Liquefied Natural Gas Future

Implementing fully-integrated solutions across the entire liquefied natural gas value chain is critical for companies to keep up with the evolving industry while meeting the demands of their initiatives.

Over the past few years, the focus on liquefied natural gas (LNG) has continued to grow. Countries in regions around the world are seeking to make progress on their initiatives targeting the reduction of their greenhouse gas (GHG) emissions, prompting greater global demand for a lower-carbon fuel.

Often referred to as a “bridge” fuel within energy transition efforts, LNG represents an alternative with lower carbon emissions when compared to other fossil-fuel resources such as coal and oil. As a result, the global demand for LNG continues to grow even while being accompanied by complex challenges.

For example, geopolitical circumstances are influencing supply routes, putting pressure on LNG industry players including project developers, offtakers and suppliers around the globe. Companies are also facing challenges as a result of rising CAPEX and LNG prices triggered in part by the growth in demand versus planned supply capacity. They are also seeing an increase in project risk as they attempt to keep up with the fast pace of the evolving landscape.

That’s why it’s essential for companies to adopt comprehensive solutions that address the different processes within the entire value chain. Honeywell’s LNG solutions provide flexibility for companies seeking to adapt their business models while helping meet their growing needs ranging from capital spend and operating cost reduction to digitally transforming their operations for better control and monitoring.

Addressing growing needs with end-to-end capabilities

In ongoing efforts to adapt to the changes in the industry, incorporating reliable, flexible and cost-efficient solutions across the LNG value chain is fundamental for natural gas companies to achieve faster speed to market.

Whether onshore or offshore, company success depends on pretreatment processes consistently meeting gas specification and maintaining steady operations. Having pre-treated about 40% of the world’s LNG, Honeywell’s UOP Pre-treatment and Liquefaction solutions can help ensure on-specification treated gas and reliable production of cryogenic liquids while maximizing return on investment.

Responding to changing markets also requires responsive systems that can link companies’ production capacity to market information. Plant operators must be able to operate, monitor and properly control their assets in order to ensure superior performance. In order to maintain efficiently running operations, plant operators must be equipped with tools that can aid in preventing abnormal situations and respond to such abnormal situations in the event of an emergency.

Technologies housed under Honeywell’s Automation and Integrated Business Solutions for LNG enable operators to manage and control all of their assets from a common integrated workplace. These solutions help integrate people, environmental processes and equipment protection and management to help operators mitigate safety risks. They also help mitigate safety risks while providing reliability and centralized control from remote collaboration capabilities.

As countries and companies continue to make efforts to support their energy transition initiatives, industrial companies must be prepared to adjust their businesses to the evolving landscape. Whether it’s continuing to meet regulations and product specifications or driving digital transformation enabling safe and steady operations with better control and monitoring, a fully-integrated portfolio of LNG solutions is vital.