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Yes correct.
The idea consists in liquifying natural gas to temperatures as low as -196°C sometimes, to decrease the volume occupated by the gas600 times.
Another technique consists in liquifying the gas by presurizing it in pressure vessels.
To build up on Farid's answer, the liquefaction process makes it technically and commercial feasible to transport LNG over long distances from LNG export terminals using purpose-built vessels to LNG regasification terminals where LNG is de-liquefied and becomes ready for delivery to customers.
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