Exxon Says Rising Costs Risk Derailing LNG Boom

Wednesday, December 05, 2007
A sharp surge in costs to develop liquefied natural gas projects risks halting a growth boom in the industry that has been driven by soaring demand, an Exxon Mobil Corp. an executive said. Exxon expects global demand for LNG to double by 2010 and quadruple by 2020 said the president of Exxon's LNG Market Development unit.

But a surge in project costs could put the brakes on the bonanza for gas producers, he said.

Still, advances in technology and the development of high-cost gas pipeline projects in the former Soviet Union and Russia mean that LNG may not always forever remain the more expensive option in delivering gas. Source: Reuters

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Fugro to Survey off Equatorial Guinea

Fugro has been awarded a contract by Ophir Equatorial Guinea (Block R) Limited for the provision of survey services for the development of large scale assets and

Thyssenkrupp Bids for Australian Sub Contract

German industrial group Thyssenkrupp has submitted an offer to the Australian government for a contract to build stealth submarines potentially worth tens of billions of euros,

Torm Orders Four Tankers in $200 mln Deal

Danish shipping company Torm has signed an order for four fuel-efficient LR2 (long-range) product tanker vessels from Guangzhou Shipyard International in China for $200 million.


Hoegh LNG Q3 Profits Disappoints

Oslo-listed Hoegh LNG, whose floating plants turn liquefied natural gas (LNG) into gas, reported on Monday third-quarter earnings below forecasts and offered a dividend of $0.

ESL Orders LNG-fueled Bulker following Transport Deal with SSAB

ESL Shipping Ltd and the steel company SSAB have signed a long-term frame agreement covering SSAB’s inbound raw material sea transports within the Baltic Sea and from the North Sea.

Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0678 sec (15 req/sec)