In the next two decades, the world will demand more LNG. This is according to Atlantic LNG’s (Atlantic) CEO’s Dr Philip Mshelbila. In Atlantic’s 2018 sustainable report, Mshelbila said: “The world in 20 years will likely be characterised by increased demand for more efficient and cleaner energy.”
He continued: “The challenges of renewables with respect to intermittency, storage and high-intensity heat generation mean that natural gas (and LNG in particular), as an abundant form of the cleanest fossil fuel, will be a critical component of the future energy mix as a complement to renewables.” Currently, Mshelbila described the LNG business as becoming “more dynamic than ever over the last five years.”
He added that global demand for LNG continues to grow, as does global supply, but this comes with price fluctuations.
After being established for 20 years, Atlantic’s CEO noted that the company will be poised to “win in the new energy world that is emerging” in the next 20 years. Atlantic has also taken steps to employ technology as a necessary fit into the company’s core business of liquefaction.
Mshelbila noted that there will be three enablers to accomplish the leveraging of technology, which will also “future-proof the business for at least the next 20 years.” Firstly, he said Atlantic has to ensure that its people have the right capability and behaviours to deliver success at present and into the future “despite the dynamism and uncertainties of the business environment.”
Secondly, Mshelbila expressed that technology must be utilised to deliver clear business objectives and the company must also take advantage of “digitalisation where appropriate to enhance safety, efficiency, production and value.”
Finally, Mshelbila said that Atlantic LNG is committed to reducing its greenhouse gas (GHG) footprint to become more energy-efficient while contributing to a cleaner energy future for the world. “These three things will help ensure that our business is robust against many of the challenges of tomorrow,” said Mshelbila.
He continued: “Just as throughout history, the journey of mankind was broken up into different Ages—the Stone Age, the Bronze Age, the Iron Age, etc. Today could well be described as the Technology Age.”
Mshelbila expressed that rapid technological advances and innovation close the gap between what we can be imagined and achieved.
He noted that any company “that is not in the process of seriously reflecting on the implications of these realities and planning to do something about it has already been left behind.”