TOKYO (Reuters) – An international liquefied natural gas (LNG) body has appealed to governments to help mitigate fuel price spikes and promote new LNG developments to secure a stable global supply.
“This is the first time the International Group of Liquefied Natural Gas Importers (GIIGNL) has issued such an urgent message, underlining the sense of crisis,” Michiaki Hirose, GIIGNL’s vice president for Asia told reporters on Tuesday.
The Paris-based group, whose members account for more than 90% of global LNG trade, issued a statement a day earlier after a meeting of its executive committee, saying governments should provide protection mechanisms to reduce the exposure of LNG importers and consumers to potential procurement cost increases.
