Australia to Become the Number One in Liquefied Gases?
GBI believes that the huge consumer base in Asia–Pacific, rapidly increasing demand and short distance to end-use markets make these new gas findings perfectly placed. Australia could thereby easily become the leading producer of LNGs until 2017, the analysts expect. Energy giants such as Royal Dutch Shell are planning to build liquefaction terminals on Western Australian shores to feed both the domestic markets and nations, such as China, India and Taiwan, demonstrating its financial commitment to the newly discovered reserves.
More about the boom in natural gas in our gallery!
Depleting Crude Oil Reserves Drive Natural Gas Industry
The shift towards new fossil energy sources is, nevertheless, continuing only gradually, as global economies have long been accustomed to utilizing crude oil. A total shift would happen only over decades, and demand the extensive rejuvenation and revamping of fuel consumption infrastructure, GBI specialist underline. However, natural gas is still anticipated to emerge as a promising commodity over the coming years.Discover, why shale gas booms in the US and how this effects the chemical industry in the first part of our series "Chemical Industry of the Americas"!