MISC Berhad believes the Ukraine war will drive more investment in new LNG projects as European countries seek to reduce reliance on Russian piped gas.
The Kuala Lumpur-based hydrocarbons shipper said on Thursday that LNG imports to Europe are expected to increase because of concerns over Russian supplies, cold weather forecasts and reduced wind-based generation.
“Europe’s aim to diversify away from Russian gas is also expected to support an even more positive LNG project sanctioning environment in coming years, with many export projects, mainly in the US, advancing significantly in recent months,” the company said in its first-quarter results announcement.
