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

Finance

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics 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: 0.2139 sec (5 req/sec)