Natural gas is starting to resemble oil as a global commodity – here's why that matters and how to play it

Natural gas could become the global energy source of the future, serving as a transition fuel to replace coal and support renewables as rising demand makes it easier to ship around the world. Natural gas has historically been a regional commodity, with supply limited by pipeline networks.

China was the largest LNG importer in 2023, taking 71 million metric tons, followed by Japan, South Korea and India. Whether LNG is actually a cleaner-burning fossil fuel with a role to play in the energy transition to renewables is contentious. The Department of Energy found in 2019 that LNG exported to Europe would generate anywhere from 56% less greenhouse gas emissions than coal to 1% more emissions than coal over a 20-year period.

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