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 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


Sandra Weakens to Tropical Storm off Mexico's Coast

Hurricane Sandra weakened to a tropical storm on Friday and was expected to continue losing strength as it approached Mexico's Pacific coast, the U.S. National Hurricane Center (NHC) said.

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of

Fugro's Havila Harmony to join MH370 Search

Fugro is providing an additional vessel, the Havila Harmony, to join the search for the missing flight MH370 in the southern Indian Ocean. From the 93-metre multi-role vessel,

Maritime Careers / Shipboard Positions Maritime Contracts Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1232 sec (8 req/sec)