Oil & Gas Giants: Amidst Market Volatility, LNG Market looks to Artificial Intelligence

The Liquefied Natural Gas (LNG) market is increasingly being defined by its volatility. From increases in spot prices to intense commercial demand expectations, cargo cancellations, shipment delays and more, it is widely reported that, “unplanned maintenance at LNG export facilities from Australia to Qatar to Malaysia has led to a tighter than expected market in the second half of the year [2020].” This unplanned maintenance, combined with “pandemic prompted dramatic price swings” has led to the halt in growth in the LNG market in 2020. As a result, LNG has been looking to digital transformation to ramp up recovery, avoid stagnant growth and deliver on increasing market pressure.

While the cost of oil drops for consumers, due to social impacts of COVID-19, the LNG market is preparing for long-term implications. LNG is poised to experience more growth in comparison with the traditional use of oil and coal in consuming countries as the spot market has made LNG a more attractive option. Consumers have been incentivized by low LNG prices, relative to oil and gas prices, to make a switch.

Though the outlook for LNG growth in 2021 is quite strong at this point, the market is still unpredictable. LNG, in the position of a relative newcomer in respect to oil and coal, will benefit from swift implementation of digital in their early stages of growth. Gaining an even greater competitive edge in LNG is dependent upon digital adoption where speed to value becomes the most critical element in a technology deployment.

Source: Nobel Upstream

For years the LNG and larger Oil & Gas market have been turning towards digital technologies for their many benefits, not the least of which being promises of decreased costs and increased efficiency. However, they have never felt a more significant pressure to extract value from digital then what they are experiencing right now. Many O&G corporations that were early adopters have previously been failed by tech companies touting pie in the sky Artificial Intelligence platforms which merely turn out to be static algorithms at best. After a failure to deliver on hype and promised benefit, these tech companies have only left behind frustration and a distrust in AI’s true capabilities.

These early adopters can rest assured that the marketplace has seen a significant shift from the early days of promises and theoretical AI to concrete benefits in practiced AI. What was once seen as potential benefit is now being realized. As mentioned in the above graphic, making the best of existing technology, through the implementation of Artificial Intelligence which utilizes existing infrastructure, like Maestro, can yield significant cost savings. LNG producers, driven by everchanging costs, need to adopt Artificial Intelligence to survive in todays’ landscape.

The pandemic has been a great shock to the market but with this shock comes an exciting opportunity for change. Leaders have been given the opportunity to evaluate existing business strategies and identify opportunities for growth. LNG producers have the potential to extract significant financial value and increased profit from digital and further their growth position in the O&G market. Digital value chain transformation will afford LNG opportunities in increased flexibility and responsiveness of their production to market conditions. 

A critical element in the LNG and overall O&G journey to choosing a partner to adopt Artificial Intelligence with is the partner’s ability to deliver immediate value. Speed to value is driven by many factors but industry expertise, like that of Elutions’ Maestro, is paramount. To learn more about Maestro and individual case studies in the Oil & Gas sector, please contact us

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Crystal Ball 2021: AI Combatting Disruption due to COVID-19

Today’s world is increasingly surrounded by fear. Not just fear of COVID-19, but also of the unknown fears: loss of market share to a competitor, the creeping suspicion that businesses may be outperforming yours, everywhere, all the time. Business leaders need to grasp the understanding that the cost of doing nothing now, significantly outweighs the cost of taking action later.

It can be said with confidence that 2020 has been defined by COVID-19 and its impact to families, consumers and especially businesses in all industries around the globe.

Thus, our fourth and final prediction for Artificial Intelligence in 2021:

AI Combatting COVID-19 Disruption.

Crystal Ball Predictions 2021: This article emphasizes AI Combatting COVID-19 Disruptions

COVID-19’s disruption significantly impacted numerous industries, not the least of which include Chemical Manufacturing, Oil & Gas, Higher Education and more. Elutions continues to address COVID-19 related business challenges and more through Maestro’s AI capabilities. There is more pressure than ever on these corporations to make 2021 a year to rebound from demand, workforce reduction, production, shipping and more. The use of holistic end-to-end Artificial Intelligence, namely Maestro AI, provides a bright and ready solution for unmatched speed to value. 

There has never been a time in modern history like 2020 where the increasingly urgent necessity for immediate solutions to business quandaries has been met with an equally robust solution as Artificial Intelligence. In the consumer space, we see this with AI enabled chatbots as a solution to the increasing customer service demands of consumers who are now spending more time than ever online shopping.

But what about a solution to address the onslaught of shipping as a result of shifted consumer purchasing habits due to COVID-19? Maestro is leading the way, helping shipping companies optimize their process from the warehouse down to the delivery route.

Source: Gartner

For further proof that the market, as a result of COVID-19, is responding to AI in leaps and bounds, the above information from a Gartner study of IOT implementation stated that 47% of respondents will be increasing their plans to implement to reduce costs.

In the commercial space, the use of AI in the pharmaceuticals and healthcare industry is top of mind, especially with the fast-tracked COVID-19 vaccines. An already overwhelmingly positive impact of AI, due to COVID-19, is the ability to develop vaccines and medications with greater speed than ever before, leading to change in the entire process of how we develop and test new medications for the future.

But could AI be the “vaccine” all industries need to improve future demand forecasting, prevent future disruption and stabilize now?

The answer is a resounding “yes”.


The increased demand for Artificial Intelligence has already been observed in 2020 and the adoption of AI will be widely implemented in 2021. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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