World LNG Trade To Grow Steadily

Thursday, October 12, 2000
World trade in Liquefied Natural Gas (LNG) will grow at an annual rate of seven to eight percent over the next 10 years, a senior BP Amoco Plc executive said last week. "The large LNG projects that people talk about in Egypt, Iran and Indonesia will support this growth," said Anne Quinn, group vice president of power and gas at an industry conference in Paris. The projects include a $1 billion LNG plant due to be built near Alexandria in Egypt, two major LNG projects in Iran set to produce up to 15 million tons of gas by 2005, and Qatari plans to increase LNG production to 30 million tons from 13 million tons within the next four to seven years. BP is currently short-listed in a tender to win a Chinese contract worth about $860 million to build an LNG plant and pipeline in Shenzhen, Guangdong Province. Quinn said for distances over 5,000 km LNG was becoming competitive against pipelines. Traditionally LNG has been expensive because of high freight rates for LNG carriers, but with the prospect of global growth more tankers are expected to be built which should cut charter costs. Quinn said natural gas trade as a whole had grown by 60 percent since 1990, and that the number of countries where it was traded had increased by the same percentage. International trade in natural gas has blossomed due to a liberalization process both in the U.S. and Europe which has led to the formation of regional spot markets on both sides of the Atlantic.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Repair Sonar
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: 0.1550 sec (6 req/sec)