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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Sea Star Line: Equipment Replacement Plan on Track

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’

MacGregor's Hatlapa Brand is 95 Today

November 2014 marks the 95th anniversary of MacGregor's Hatlapa brand. Since its foundation in 1919 by German engineer Max Hatlapa, the formerly independent Uetersen-based

Pair of ASD Tugboats Delivered to Keppel-Smit

The ASD tugs KST Passion and KST Pride were were delivered to their owner, Keppel-Smit Towage Pte. Ltd of Singapore in October 2014. The two vessels are the first

Tanker Trends

HMAS Success Deploys to Middle East

After months of preparation, HMAS Success departed Garden Island in Sydney today for a six-month deployment to the Middle East Region to provide logistic support

Rosneft Ships First Oil From Chayvo Field

Rosneft commenced shipment of crude oil extracted at the Northern Tip of Chayvo license off the coast of Sakhalin, with the first tanker carrying Sokol-grade crude leaving port on November 21.

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1449 sec (7 req/sec)