LNG at a Crossroads
For an industry that is just over 50 years old, liquefied natural gas (LNG) has matured rapidly and is playing an ever-growing role in the global energy system. From the start of international trade in the 1960s, demand reached 50 MTPA in 1990, then 100 MTPA in 2000, and 240 MTPA in 2012, according to the Center for Liquefied Natural Gas (CLNG).
LNG has become the world’s fastest-growing gas supply source and is now part of an upheaval in the global energy market. Trade has quadrupled over the past two decades and is set to double over the next two. Consumption and share growth have set new records for three consecutive years. New markets for both demand and supply are developing rapidly. Liquefaction facilities and vessel fleets are expanding. Innovative and collaborative trade models are emerging. And, new technologies are being pursued to enhance LNG’s flexibility and competitiveness with other primary energy forms (Fig. 1).
LNG is not without risks. These range from project economics, fuel competition, and politics on a local, national, and global scale to partner priorities, marketing, and contractual arrangements. Given the growing world population, the rising demand for more energy, and the need to mitigate climate change, the consensus is that the long-term outlook is bullish. But, says industry technical advisor DNV GL, the sector stands at a crossroads, and the industry must adopt new thinking to address current and future needs of buyers, sellers, and consumers both globally and regionally....
LNG at a Crossroads
Judy Feder, Technology Editor
01 July 2019
The New Map: Daniel Yergin Paints A Complex Mosaic Of Our Energy Future
The author of The Prize talked recently about his newest book on the energy transition and what he sees as the most dynamic forces shaping the things to come.
Oil Jumps After Saudi Oil Minister Presses OPEC+ for Better Compliance With Production Cuts
Saudi energy minister warns speculators not to bet against the OPEC+ alliance.
UPDATE: Workers Return to Offshore Platforms After Hurricane Sally Evacuations
Personnel are returning to platforms in the Gulf of Mexico after Hurricane Sally was downgraded to a tropical depression late Wednesday, but the threat of another major hurricane remains as a tropical storm may form in the Gulf of Mexico today.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
14 September 2020
11 September 2020
09 September 2020