Energy transition is defined as a structural change in energy balance when some fuels are replaced with others. This process of structural transition, however, does not lead to an ultimate replacement of fuel but a substantial reduction of its share. Liquefied Natural Gas (LNG) is widely considered a transition fuel that will eventually lead to a shift to the renewable energy system. LNG provides an alternative to coal, oil, nuclear energy and pipeline gas, as it helps reduce carbon emissions.

In 2012, the International Energy Agency (IEA) in its ‘World Energy Outlook’ said that the world was entering a ‘Golden Age of Gas’. With its lower carbon-emitting properties, gas seemed poised to claim its rightful place in the global energy mix as a bridge between polluting hydrocarbons and green renewables. Moreover, it has all the ingredients to make it as worthy a contender in the energy geopolitical game as did oil a few decades ago.