Trump's Steel Import Tariffs May Hurt US LNG Exports
U.S. natural gas trade groups said on Thursday they are concerned that new U.S. steel import tariffs could delay or reduce new pipeline projects as well as dent exports of liquefied natural gas. U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week. The type of pipe and the steel used to make large diameter, thick-walled pipe used for interstate natural gas pipeline projects are niche products that are not available off the shelf or even from a wide variety of manufacturers…
US O&G Industry Reaps the Benefits of International Trade
Rising exports have thrown a lifeline to U.S. shale producers and refiners, giving them an additional outlet at a time when the domestic market has been at risk of becoming saturated. The United States exported record quantities of natural gas, propane, gasoline, distillate fuel oil and light crude last year while continuing to import the heavy oils needed by its refineries. Gas exports increased by almost 30 percent in 2016 and have more than tripled in the last decade, limiting the build up of unused gas and supporting prices in recent months despite the warmest winter on record.
Energy Transport: The Boom Continues
With 21 percent of existing VLCCs and about 35 percent of both the Suezmax and Aframaxes fleets still on order, tanker owners may be starting to wonder how far today’s boom rates can last. However, according to the latest edition of BP’s stalwart Statistical Review of World Energy, now in its 53rd year, there will be hefty shipping requirements for a long time yet. Energy demand continues to rise – last year, primary consumption rose by 2.9%, as a result of the “global economic recovery and the ongoing boom in China”. China’s oil consumption rose to 5.38m b/d, up 11.5% from 5.03m b/d in 2003, accounting for about 40% of the total global increase.
World LNG Trade To Grow Steadily
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.
