Monday, October 3, 2022 - 09:27

Liquefied Natural Gas, better known as LNG, has long been regarded as the fuel of the future. Given Gibraltar’s unique location at the crossroads between the Mediterranean and the Atlantic, it is ideally placed to take advantage of this developing industry. Moreover, the oil pollution which followed the collision of the OS35 with the Adam LNG will serve as a timely reminder of the need to move further away from diesel to other less polluting fuels.

DYNAMICS
The war in Ukraine has changed the dynamics of the sourcing, sale and supply of fuel, particularly of oil and gas. Europe has been hoarding gas over the last few months in order to try and secure supplies for the winter. The sanctions on Russia, which have led to a scarcity of fuel supplies overall, has generated concerns in many European capitals that their citizens will suffer from a shortage of gas at home for heating or for other purposes. The recent breaches of the Nord Stream 1 and 2 gas pipelines has compounded the problem further still.