LNG Capital Expenditure to Double

Marinelink.com
Friday, August 02, 2013

A strong recovery in expenditure on LNG facilities now underway worldwide driven by a growing demand for natural gas. The new eighth edition of Douglas-Westwood’s (DW) World LNG Market Forecast expects that global Capex will total nearly $228bn during the 2013-2017 period, an increase of 109% over the preceding five years.
 

The spending surge includes capital expenditure on base-load onshore and offshore fixed LNG liquefaction, LNG carriers and LNG regasification via both onshore and offshore fixed import terminals.
 

Report author, Michelle Gomez, commented, “Activity over the next five years is underpinned by huge financial commitments to both liquefaction projects and gas import facilities. The liquefaction developments will drive expenditure, with Australasia and North America playing a fundamental role in bringing new supply into the international market.

 
“Spend will peak in 2015 and decline slightly in 2016 and 2017. This is due to the surge of Australian LNG export projects reaching completion. The decline is, however, offset to some extent by significant growth in most other regions, particularly Eastern Europe & FSU, Africa and Asia. Liquefaction developments will contribute $143bn (63%) of forecast Capex. Import terminals’ spend will grow and total $50bn (22%). Gas carrier expenditure will increase at a CAGR of 25% and total $35bn (15% of forecast Capex.)”

 
Steve Robertson, DW Director, commented, “DW expect continued change in the focus areas for LNG export projects. While the Middle East remains one of the top exporters, the region will see very little expenditure within the forecast period. Australian spend however, will surge, peak and start to decline somewhat.

 
“As in many other sectors of the oil & gas industry, reducing the costs of LNG projects remains a major challenge. However, beyond the 2017 time frame of DW’s forecasts, significant potential for major growth in LNG capital expenditure can be seen, due to the large discoveries in East Africa and Eastern Mediterranean, together with increased focus on exports of US shale gas. Furthermore, the considerable potential reserves of the arctic offer a longer-term potential”
 

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

Ship Repair & Conversion

Industry Professionals to Speak at ShipConstructor Conference

The speakers representing various companies at next week's SSI Americas ShipConstructor User Conference, October 7-9, 2014 in Mobile, Alabama, demonstrate SSI's

HII Appoints Brenton as Corporate Director

Huntington Ingalls Industries (HII) announced today that Capt. Kevin Brenton (U.S. Navy, Ret.) has joined the company as corporate director of customer affairs for submarine programs.

New Simulation Tool for Collision Reconstruction

BMT ARGOSS and BMT Surveys, subsidiaries of BMT Group Ltd, the international design, engineering and risk management consultancy, announced an innovative new service

Environmental

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

Shipping's GHG Emissions Down

The total Green House Gas (GHG) emissions from global maritime transport are estimated to have been over 20% lower in 2012 than in 2007, according to "London Matters

Fuels & Lubes

Kounalakis Joins OW Bunker N. America

OW Bunker, a reseller and physical supplier of marine fuels, announced the appointment of Georgia Kounalakis to its physical supply operation in North America.

Louisiana to Get Natural Gas Liquefaction and Fueling Facility

Tenaska Bayou LNG expected to meet growing marine, transportation and oil and gas exploration and production demand on the Gulf Coast Tenaska NG Fuels, LLC and Waller Marine, Inc.

Power and Endurance Ready for Austrailian Waters

Wamalhanha is the final newbuild in a series of six tugs of the Robert Allan Design, RAstar 3200 where her main duties will be terminal activities, escort duties, ship assist, towage duties.

Marine Power

Cummins Debuts Mobile Tier 4 Generators

Cummins’ certified Tier 4 Final QSB7 and QSL9 engine platforms form the basis for mobile sets that meet EPA regulations U.S. EPA Tier 4 Final certified mobile

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

Power and Endurance Ready for Austrailian Waters

Wamalhanha is the final newbuild in a series of six tugs of the Robert Allan Design, RAstar 3200 where her main duties will be terminal activities, escort duties, ship assist, towage duties.

LNG

Louisiana to Get Natural Gas Liquefaction and Fueling Facility

Tenaska Bayou LNG expected to meet growing marine, transportation and oil and gas exploration and production demand on the Gulf Coast Tenaska NG Fuels, LLC and Waller Marine, Inc.

GTT Earns Five AIPs for Multi-gas Membranes

Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announced five

Steel Cut for Yamal LNG Project’s Lead Tanker

A steel-cutting ceremony was held on September 29 for the lead gas tanker ordered by SCF Group for transportation of liquefied natural gas (LNG) under the Yamal LNG project.

News

NY Harbor Supply & Distribution Fall Reception/Buffet

More than 600 attendees are expected at the 52nd annual New York Harbor Supply & Distribution Fall Reception/Buffet for the energy and energy related industries

Kounalakis Joins OW Bunker N. America

OW Bunker, a reseller and physical supplier of marine fuels, announced the appointment of Georgia Kounalakis to its physical supply operation in North America.

Louisiana to Get Natural Gas Liquefaction and Fueling Facility

Tenaska Bayou LNG expected to meet growing marine, transportation and oil and gas exploration and production demand on the Gulf Coast Tenaska NG Fuels, LLC and Waller Marine, Inc.

Classification Societies

GTT Earns Five AIPs for Multi-gas Membranes

Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announced five

Steel Cut for Yamal LNG Project’s Lead Tanker

A steel-cutting ceremony was held on September 29 for the lead gas tanker ordered by SCF Group for transportation of liquefied natural gas (LNG) under the Yamal LNG project.

DNV GL Opens New Office in Malaysia

To meet the growing demand in the region, DNV GL opened a new office in Malaysia. The official opening of the office coincided with the company’s celebration of

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage 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: 0.1714 sec (6 req/sec)