2013 could become the year of LNG: With new gas productions going on–stream, tightening oil–reserves and increasingly connected markets, liquefied natural gas could fuel the world's visions, analysts predict. Discover, which trends define the shape of tomorrow's LNG economy...
As the world enters an era of tighter gas markets, the liquefied natural gas (LNG) industry promises hope, with new gas basin discoveries, innovative financing models and technological advances that improve supply to meet growing demand. These developments provide opportunities for trade and a move towards a cleaner energy standard.
Industry pundits agree: 2013 will be a turning point for the industry, as it will be the year…
…That Natural Gas Becomes a Global Foundation Fuel
Clean, safe and efficient, natural gas is growing rapidly as a segment of the energy market. Parallel to this is the rising demand for LNG, which is forecast to rise at a rate of 4.6 percent annually, higher than the 2.1 percent annual growth rate enjoyed by global gas.
Discoveries of massive offshore gas deposits in Mozambique and Tanzania, shale gas development in North America and China, and increased production capacity in Australia, will allow natural gas to cement its position as a foundation fuel in a world increasingly concerned with energy security and sustainability. BP predicts Asian LNG demand will grow around twice as fast as the global average between now and 2030.
…That the Global Gas Market Becomes Interconnected
Natural gas markets have traditionally been divided along a regional basis with little trade between regions. However, as more countries enter into importing and exporting natural gas, these markets have grown increasingly interconnected.
Strategically, LNG offers a compelling proposition to gas-consuming nations reliant on piped imports (Europe receives 80 percent of its gas imports through pipelines from Russia, Algeria and Norway). Unlike pipelines, which start and end at fixed points, LNG can be shipped from and to virtually anywhere. The latest LNG plants are 30 times the size of the first ones constructed in the 1960s, and LNG carrier capacity is also increasing. The International Gas Union forecasts that global regasification capacity should reach 680 million tonnes a year by 2015, up from 572 million tonnes a year at the end of 2010.
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