The liquefied natural gas (LNG) market has massive potential, leading energy executives said Monday, but warned the commodity is still too expensive for many consumers around the world.
Oil giants and energy companies are increasingly interested in LNG — a form of natural gas chilled to liquid form — as governments around the world mandate using cleaner fuel than coal.
It comes at a time when the race is on for LNG producers to build export terminals amid soaring demand for the commodity.
Speaking at an industry event at the ADIPEC oil summit in Abu Dhabi, Claudio Descalzi, CEO of Italian oil and gas giant Eni, said: "LNG has huge potential."
"But one of the problems with it, one of its fragile points, is the price. It is very expensive."