LNG Revival Sparked In U.S.

Wednesday, June 14, 2000
U.S. Appetite For LNG Increases as Evidenced By 90% Leap In Imports The import and use of Liquefied natural gas (LNG) in the U.S. has been staging a comeback.. The country's two active import terminals are handling a rising number of tanker cargoes, with imports up 90 percent last year, and there are plans to re-launch two dormant terminals during the next two years. U.S. demand for natural gas is projected to rise strongly over the next decade, with most new power generation plants opting for gas because of economic and environmental benefits. The four U.S. import terminals were built during the 1970s and reflected the energy conservation concerns of that era. Rising domestic supplies and deregulation, however, soon led to much lower natural gas prices and the U.S. market for imported LNG went the way of the lava lamp and bell-bottom pants. Today, concerns about domestic supplies have driven benchmark U.S. natural gas prices to more than $4 per thousand cubic feet, almost double the prices of a year ago, making imported LNG competitive with domestic sources. CMS Energy Corp. which operates an import and re-gasification terminal at, Lake Charles, La., handled 27 incoming LNG cargoes last year compared with 17 in 1998 and has already received or contracted for 35 cargoes so far this year. Cabot Corp. received 44 cargoes at its terminal near Boston last year, up from 18 in 1998, reflecting the start of shipments from the Caribbean nation of Trinidad and Tobago under a 20-year supply contract. Cabot expects an additional 10 to 20 percent increase in import volumes this year and says it is running at about 60 to 70 percent of capacity. Until 1996 Algeria was the sole supplier of LNG to the United States, but in recent years cargoes have also been acquired from Australia, Abu Dhabi, Qatar, Malaysia, Trinidad and Nigeria.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Volvo Penta Debuts Marine Gas Sterndrive Engines

Volvo Penta today unveiled its new family of next-generation 5.3L V8 gasoline engines for the marine sterndrive market in a press preview at the company’s Test Center in Suffolk, Va.

Exhaust Gas Scrubber Guide Updated

An updated version of the “Exhaust Gas Cleaning Systems Selection Guide” is now available, the U.S. Maritime Administration (MARAD) announced today.   Developed

Thordon Bearings Names New China Distributor

Thordon Bearings Inc. of Canada announced that CY Engineering Co. Ltd. will take over as the new authorized distributor for the People’s Republic of China, including Macau and Hong Kong,

Tanker Trends

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

Oil Plunge Deepens High-yield Gloom

US crude fell to a more than six-year low this week, clouding the picture for a high-yield energy sector that already faces a significant cull when credit lines are reevaluated in autumn.

Oil Soars in Biggest One-day Rally in Years

Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.7324 sec (1 req/sec)