Dr.Colleen Taylor Sen Director LNG Resources, IGT
|
|
- Naomi Thomas
- 6 years ago
- Views:
Transcription
1 Page 1 of 1 Dr.Colleen Taylor Sen Director LNG Resources, IGT Dr.Colleen Taylor Sen is Director, LNG Resources, at the Institute of Gas Technology, headquartered in Des Plaines, Illinois. Prior to this, she held various positions during her 25- year service at IGT. She is responsible for all IGT s LNG-related information and educational activities, including developing and chairing courses and symposia. She is founder and managing editor of the bimonthly The LNG Observer, author of An Overview of the Global Baseload LNG Industry : Markets, Projects, Economics; and co-editor of The World LNG Source Book and Overview of the Global LNG Shipping Industry. Dr.Sen is a member of the Steering Committee of LNG 13, to be held in Seoul, Korea, in She holds a B.A. and M.A. from the University of Toronto and a Ph.D.from Columbia University. Page 1 of 12
2 THE SUPPLY PENETRATION OF TRADITIONAL AND EMERGING MARKETS BY LNG Colleen Taylor Sen Director, LNG Resources Institute of Gas Technology Chicago, Illinois, USA Introduction Natural gas and LNG are making an increasingly important contribution to energy supplies at a time when the energy industries worldwide are undergoing fundamental changes. Price deregulation, privatization, market liberalization, and enhanced competition make it more critical than ever for companies to lower their costs. In the LNG industry, pricing and flexibility have become paramount concerns for buyers. For the first time in more than two decades, LNG tankers have been ordered on speculation. The growth in the number of exporters and importers and the surplus capacity at many liquefaction projects has created new opportunities for spot and short-term sales, swaps, back-hauling cargoes, and other transportation innovations. Some observers believe the old chain model of the LNG industry, where upstream and downstream participants are joined in mutual dependency, will give way to a new model based on the realities of supply and demand. The Atlantic Basin has become the new focus of innovation, and the United States is leading the way with its growing imports of spot cargoes, which provided 37% of all U.S. LNG imports in This paper will review the forces driving natural gas and LNG consumption worldwide; survey LNG markets, with an emphasis on emerging markets and the spot market; and identify new trends in the LNG industry. The Growth of the LNG Industry LNG exports have climbed nearly 8%/year since 1980 and now account for a quarter of all natural gas traded internationally, compared with 5% in the mid 1970s. The international gas trade s share of total natural gas production has risen from 4% in 1970 to 19% in 1999, although most gas flows remain regional. In 1999, the global LNG trade grew 9.4% to a record 91 million tonnes (mta), equivalent to approximately 124 billion cubic meters (bcm) of natural gas. This compares with a 2.4% increase for natural gas consumption and a mere 0.2% rise for oil demand. The so-called LNG spot trade more than doubled to 4.7 bcm and accounted for 3.9% of the LNG trade, the highest proportion in history. In Asia, which accounts for three-fourths of all imports, LNG demand continues to rebound following the financial market crisis and global economic slowdown of In 1999 Japanese imports rose 5.1% and Korean imports nearly 24% over 1998 (Table 1). In Europe, large increases in consumption were reported for Spain, up 21.5%, and Italy, up 40.3%. U.S. imports soared 90% to a record 3.5 mta. Page 2 of 12
3 Table 1 LNG Importing Countries, 1999 Importing Country Million tonnes % Change over 1998 Japan Korea France Spain U.S Belgium Taiwan Turkey Italy Total % Source: Groupe International des Importateurs du Gaz Natural Liquéfié (G.I.I.G.N.L.) The U.S. Energy Information Administration projects that over the forecast period, world natural gas consumption will grow an average 3.1%/year, compared with 2.1% for overall energy consumption and 1.9% for oil. Gas consumption will more than double from 82 trillion CF (TCF) to 167 TCF and its share of energy use will be higher in every region except the Middle East and Africa. The fastest growing gas markets are Brazil, China, India, South Korea, and Turkey (Table 2). LNG imports will play an increasingly important role in Asia, Latin America, and North America. Table 2 Forecast of Natural Gas Consumption in Selected Countries and Regions Trillion CF Country % Annual Change, % Annual GDP Growth, Brazil China India South Korea Turkey United States France Japan World Total Source: U.S. Energy Information Administration Page 3 of 12
4 Natural Gas Reserves. World proved gas reserves have doubled in the past twenty years to more than 5000 trillion CF and are now almost equal to oil on an energy-equivalent basis. Most companies are producing oil and gas at rates that, with respect to their reserve bases, indicate extra years of gas production over oil. Regionally, world gas reserves are more widely distributed than oil reserves: The Middle East, for example, holds 65% of oil reserves but only 34% of gas. Unlike oil, gas cannot be developed until a market is found because of the expense of transporting it to its user. Of the top twenty-five reserves-holding countries, only seven currently export LNG, while eight more have planned or proposed projects in various stages of development. Economic Growth and Power Generation. The world economy is projected to grow 2.8%/year over , and the fastest growing economies will be China (6.3%), India (5.4%), South Korea (4.7%), Mexico (4.7%), Brazil (4.0%), and Turkey (4.0%). Electricity consumption is closely linked to economic growth, and natural gas is becoming the fuel of choice for new power projects. By 2020, a third of all natural gas will be used for power generation. Combined-cycle gas turbine power plants are more efficient than conventional generation technologies and can be installed much more quickly and cheaply. Natural gas is also attractive for environmental reasons, with lower SO 2, CO 2, and particulate emissions than oil or coal. Hydroelectric resources are being exhausted in countries such as Brazil and India, and it is unlikely new nuclear power plants will be built anywhere in the world. Availability of LNG Supplies. In 1999 Asia and Australia provided two-thirds of all LNG production (Table 3), although the Middle East is becoming an increasingly important supplier. Indonesia, the world s largest producer, made 32% of total sales. Algeria s exports continued to rise with the completion of the revamping of its plants. Exports from Malaysia declined, following several years of double-digit increases a fallout of the Asian economic crisis. Qatar, which became the world s ninth exporting country in 1997, saw a 63% increase in its exports, which will surpass 12 mta by Table 3 LNG Exporting Countries, 1999 Source: G.I.I.G.N.L. Exporting Country Million tonnes % Change over 1998 Indonesia Algeria Malaysia Australia Qatar Brunei Abu Dhabi Trinidad & Tobago U.S Libya Nigeria Total Page 4 of 12
5 Over the past 18 months, an unprecedented increase in supplies has been created by the launching of four new projects Nigeria LNG, Atlantic LNG, Ras Laffan LNG, and Oman LNG plus the startup of an eighth train at Indonesia s Bontang plant. Twelve countries now export LNG from projects that have a combined total of 64 trains with actual production capacity of more than 123 million tonnes/year, a third more than current consumption (Table 4) Plans have been announced for the construction of 15 more trains with around 52 mta of capacity at existing projects (Atlantic LNG, Nigeria LNG, Qatargas, Ras Laffan, Oman LNG, Malaysia LNG TIGA, and Brunei LNG) These so-called brownfield projects cost significantly less per unit of output than new, or greenfield, facilities. Debottlenecking activities are underway at the Brunei and Qatargas plants and under discussion for the third train in Abu Dhabi. Finally, as many as twenty new greenfield projects have been announced, proposed, or discussed in Angola, Egypt, Iran, Russia, Norway, and Venezuela as well as existing importing nations such as Australia, Indonesia, and the U.S. Page 5 of 12
6 Table 4 LNG Liquefaction/Export Plants as of Year-End 1999 Country Plant Name Companies No. of Trains Abu Dhabi Das Island Abu Dhabi Gas Liquefaction Co., Ltd.: (ADNOC 51%, BP 16.33%, Total 8.17%, Mitsui 24.5%) 1&2 3 Year First LNG Produced Actual Capacity (mta) 6.0 Algeria Arzew - GL1Z Sonatrach Arzew - GL2Z Sonatrach ; renovation 8.5 finished 1996 Camel - GL4Z Sonatrach ; renovation 1.1 finished 1995 Skikda Gl1K Sonatrach Skikda GL2K Sonatrach (train 4) (trains 5-6) Australia North West Shelf North West Shelf Joint Venture (Woodside, Shell, BHP, BP, Chevron, MiMi [Mitsubishi/Mitsui], each 16.66% ; debottlenecked 1995 Expansion Plans 7.3 Preliminary work on 2-train expansion (7-8 mta) Brunei Lumut Brunei LNG (Brunei 50%, Shell 25%, Mitsubishi 25%) train expansion (4 mta) under discussion Indonesia Arun PT Arun NGL Co. (Pertamina 55%, 1978, 1984, 12.8 Mobil 30%, JILCO 15%) Indonesia Bontang PT Badak NGL (Pertamina 55%, VICO 20%, TotalFina Elf 10%, JILCO 15%) A&B C&D E Train I (3 mta) planned F G H Libya Marsa el Sirte Oil Co Brega Malaysia Bintulu Malaysia LNG Sdn. Bhd. (Petronas MLNG I: Malaysia LNG 60%, Shell 17.5%, Mitsubishi 17.5%, TIGA, 2 trains (6.8 Sarawak 5%) MLNG II: mta) set for Malaysia LNG Dua Sdn.Bhd.(Petronas %, Shell 15%, Mitsubishi 15%, Sarawak 10%) Nigeria Nigeria LNG Nigeria LNG Ltd. (NNPC 49%, Shell 25.6%, Elf 15%, Agip 10.4%) Oman Oman LNG Oman govt. 51%,Shell 30%, Total 5.5%, Korea LNG 5%, rest Mitsubishi, Mitsui, Partex, Itochu Qatar Qatar Trinidad Qatar Liquefied Natural Gas (Qatargas) Ras Laffan LNG Co. Atlantic LNG Co. QGPC. 65%, Mobil 10%, Total 10%, Marubeni 7.5%, Mitsui 7.5% QGPC 63%, Mobil 25%, Itochu 4%, Nissho Iwai 3%, Korea Gas tba BP Amoco 34%, BG 26%, Repsol 20%, Cabot 10%, NGC 10% rd train under construction (3.3 mta). Trains 4 & 5 studied April 2000 June May 1999 April Train 3 (3.5 mta) Under discussion 7.2 Trains 3 & 4 (7 mta) announced Trains 3 & 4 (5-6.4 mta) planned 1 May Trains 2 & 3 under construction. Trains 4 & 5 under discussion U.S. Kenai Marathon, Phillips Total Page 6 of 12
7 Traditional Markets in Asia Japan. Japan remains the world s largest importer of LNG, although its 55% share of total world imports in 1999 was a drop from the 65-70% share it held during the 1980s and early 1990s. Japanese imports grew 5.1% in 1999, up from the 3.9% and 2.9% increases reported in 1998 and Japan currently imports LNG from eight countries into twenty-three terminals. Two more are under construction. The Ministry of International Trade and Industry (MITI) is reviewing its energy supply and demand outlook through Its last Outlook, published in June 1998, projected mta of LNG demand, which was somewhat lower than other agencies forecasts and reflected MITI s optimistic expectations of future construction of nuclear plants. Following a nuclear accident in September 1999 and local opposition to nuclear plant construction, MITI is expected to reduce its optimistic assumption about new nuclear plant construction. MITI has also been less positive than the electric utilities about the prospective use of coal for power generation. A committee has been set up to study how natural gas markets can be developed in Japan, how LNG can be made more competitive, and how an infrastructure could be created to distribute natural gas. The feasibility of allowing open access to Japanese terminals is also under study. For many years Japanese companies were willing to pay premium prices for LNG in return for security of supply that was based on long-term contracts with stringent offtake obligations. All the LNG from a single train or even an entire project would be dedicated to this buyer or consortium of buyers in a single country. The buyer would leave control of shipping to the seller or to intermediaries. This approach became known as the Japanese model. However, the deregulation of the energy industries is enhancing competition among fuels in Japan, and foreign companies, including Enron and Shell, are interested in acquiring an interest in pipelines and terminals. Moreover, pipelines from Russia, especially Sakhalin Island, and the construction of a national pipeline grid are being given serious consideration, although investment requirements are very high. Japan has several major contracts that end over the next 5 to 10 years, including a contract between Tokyo Electric and Tokyo Gas with Petronas that expires before Three utilities have signed a confirmation of intent to buy 1.6 mta from Malaysia Tiga starting in 2004 and are now beginning SPA negotiations. According to reports, some utilities have already succeeded in modifying the pricing formula to reduce prices when renewing existing contracts. In the new environment, buyers are also looking at such arrangements as acquiring their own ships and replacing long-term contracts with a basket of varied term arrangements. Korea. Throughout the 1990s, Korea was the world s fastest growing LNG market, and demand was projected to reach 28.5 mta by As a result of the economic crisis, in 1998 consumption dropped 7%, but in 1999 LNG imports soared 22% to nearly 13 mta, almost the same volume as before the crisis. Korea Gas Corp., until now the country s sole importer, took short- and long-term volumes from seven countries into terminals at Pyeong Taek and Inchon, which is being expanded. The country s third terminal is being built at Tong Yung. In a few years Korea Gas will surpass Tokyo Electric as the world s largest single buyer of LNG. In April 2000, the Korean Ministry of Commerce, Industry and Energy issued its long-awaited forecast of LNG supply and demand, the first since As shown in Table 5, demand will grow steadily to reach more than 20 mta by 2010, although this is lower than the 28.5 mta projected earlier. It says existing contracts are likely to be sufficient until Page 7 of 12
8 Table 5 Projected Korean Gas Demand (1000 tonnes) Year City Gas Power 2000 Forecast 1997 Forecast ,806 17, , , , , ,300 23, , ,071 28,457 Source: Korean Ministry of Commerce, Industry, and Energy The government has announced plans to deregulate the Korean energy industries, break Korea Gas into three companies, and offer open access to pipelines and LNG terminals, although these plans have so far been impeded by opposition from labor unions and parliament. Like Japanese buyers, the Koreans are calling for a review of new pricing strategies, more contract volume flexibility, and a relaxation of take-or-pay requirements. Taiwan. Taiwan, which was not affected by the Asian economic crisis, imports 5.2 mta of LNG from Indonesia and Malaysia, nearly half of it used for power generation. The country s sole importer, Chinese Petroleum Corp., owns and operates a receiving terminal at Yung-An, which is being expanded. Taiwanese energy markets are being liberalized: There are plans to privatize CPC and Taipower, the state-owned electric utility, and foreign firms are now allowed to buy shares in local distribution companies. Government policy encourages the use of gas in new power projects, including three new IPPs with a combined LNG requirement of 1.4 mta and a 4000-MW baseload plant in northern Taiwan, both scheduled to start up in The consortium Tuntex has received government approval to build a 6-mta terminal at Tuoyuan in northern Taiwan and has signed a Memorandum of Understanding (MOU) with Australia LNG Pty Ltd. for 4 mta. Non-Traditional Markets in Asia India and China are in many ways different from traditional Asian markets. Political risk is higher, sovereign support is limited, regulations are unclear or nonexistent Enron, for example, had to write the port regulations for Dabhol and buyers have limited credit support. LNG faces competition from domestically produced coal and imported liquid fuels. Thus, Indian buyers are insisting on flexible contractual terms in such matters as takeor-pay provisions, price indexations, and periodic price reviews. Other challenges are to optimize shipping and liquefaction costs and to identify government-backed buyers. India s Petroleum Ministry recently said it would impose stringent conditions on LNG imports to discourage non-serious applicants. India. Natural gas demand is forecast to more than triple between 1996 and Domestic production is likely to remain at around 44 bcm versus projected demand of 68 bcm in 2005, 122 bcm by 2010, and 200 bcm by 2020, leaving enormous shortfalls that can be met only by imports. Overland pipelines are probably the most economic way of delivering natural gas to India, and proposals have been made to build lines from Oman, Qatar, Turkmenistan, and Iran. However, regional instability and hostilities are obstacles to their implementation. Some twenty LNG import projects have been proposed or announced for India, but only a few are likely to be implemented. The most advanced are shown in Table 6. Page 8 of 12
9 Table 6 Indian LNG Supply Agreements Buyer Terminal Seller Volumes Petronet Dahej Mobil/Ras Laffan (Qatar) 5 mta f.o.b. 20 years starting July 2003 Petronet Kochi Mobil/Ras Laffan (Qatar) 2.5 mta f.o.b. 20 years starting 2005 Dakshin Bharat Ennore Ras Laffan Up to 2.5 mta for 20 years Consortium Dabhol Power Dabhol Adgas Oman LNG MLNG Tiga 0.48 mta for 20 years 1.6 mta for 20 years 2.6 for 20 years Petronet LNG is a joint venture set up by the Indian government consisting of five public sector companies: India Oil Corp. Ltd., Oil & Natural Gas Corp., Bharat Petroleum Corp., National Thermal Power Co.,and Gas Authority of India Ltd. (GAIL), which will each have a 10% equity share. The remaining 50% will be allocated among financial institutions and LNG suppliers, including Gaz de France and Qatar General Petroleum Co., which intends to take an equity share in the receiving terminal and the tankers. LNG from Qatar s Ras Laffan project will be shipped to Petronet s two terminals on the west coast at Dahej (5 mta capacity), starting in July 2003, and Cochin (2.5 mta) in January The government recently decided to permit LNG imports only on an f.o.b. basis. Foreign shipowners must tie up with a domestic shipping company to respond to Petronet s shipping tender. Tamil Nadu Industrial Development Corp. (Tidco) selected the Dakshin Bharat Energy Consortium as the preferred bidder to build a mta LNG import terminal and a 1875-MW gas-fired power plant at Ennore in the state of Madras on the east coast. A contract has been signed with Ras Laffan LNG. Following several years of political complications, the Dabhol power project (a partnership of Enron, GE Capital, Bechtel, and the Maharashtra State Electricity Board) is on course. The first 826 MW of capacity is now running on naphtha; LNG deliveries will begin in Long-term supply agreements have been signed with Oman LNG, Adgas, and Malaysia s MLNG Tiga. The latter agreement reportedly includes a provision that allows Enron to divert cargoes to other markets. Enron has announced plans to expand the Dabhol terminal to offload, store, and vaporize LNG for itself and third parties. Indian LNG demand is likely to be in the mta range by The ultimate potential is much larger, perhaps as high as 25 mta by 2010, provided that regulatory, financing, and bureaucratic obstacles can be overcome. China. Like India, China has an enormous appetite for natural gas for power generation and as a substitute for coal to mitigate urban pollution. China National Offshore Oil Co. (CNOOC) did a study of China s LNG potential for the State Planning Commission. It looks at the construction of three LNG terminals in the southeastern coastal provinces, notably in the Pearl River Delta, the Yangtze Delta, and in Fujian. It estimates demand for LNG could reach between zero and 4.4 mta in 2002, mta in 2003, mta in 2004, mta in 2005, and 17 to perhaps 27 mta in In January 2000, the Chinese government finally approved the construction of China s first receiving terminal at Shenzhen, estimated to cost $500 million, and a 400-km pipeline in the province of Guangdong. CNOOC will have a 36% share in the terminal; local Chinese companies will have 29%; the balance will go to foreign Page 9 of 12
10 participants. BP Amoco, Shell, Mobil, Total and Enron are among the companies reported to be interested in participating. Startup is expected around Chinese officials are holding discussions with a number of potential suppliers and said they will pay close attention to the proved reserves of the producing country. Possible suppliers include Malaysia Tiga, an expansion of the Indonesia s Bontang plant, Oman, Yemen, Qatar, and Abu Dhabi. Pipeline imports from Siberia, Sakhalin Island, Turkmenistan, and elsewhere are another competitive option. European LNG Markets Natural gas will remain the fastest growing fuel in Europe. Its share is expected to rise from 16% in 1997 to 27% by EU gas production has been increasing, mainly in the North Sea, but this will not prevent an increased dependence on imports, which could double by 2010 and nearly triple by The bulk will continue to arrive via pipeline, mainly from Russia, Norway, and Algeria. However, there are uncertainties regarding Russian volumes: high costs of future projects; the emergence of alternative sources in the former Soviet republics, especially Turkmenistan; and competition for supplies from China and other Asian economies, which could drive prices upward. The extent to which decommissioned nuclear plants are replaced after 2020 is another factor affecting European gas demand and prices. Over the next few years, European LNG imports are projected to increase from 25 bcm (19 mta) in 1998 to 35 bcm (26 mta) in 2002 and to 38 bcm (28 mta) by Total liquefaction capacity serving the Atlantic Basin will reach 49 bcm (36 mta) in 2002, which means that volumes will be available for Europe and North and South America. The greatest market potential is in southern Europe, especially Spain, and Turkey. These countries are leading purchasers of spot cargoes and are building new terminals to accommodate new supplies. LNG Markets in the Western Hemisphere United States. In 1999 LNG imports nearly doubled in the U.S. to an estimated 164 billion CF (4.5 bcm) into two terminals: Distrigas LNG s facility at Everett, Massachusetts., and CMS Energy s facility at Lake Charles, Louisiana. Nearly 40% of U.S. imports were spot sales at an average ex-ship price of $2.28/million Btu. The U.S. is an attractive market for projects with available supplies because it can readily absorb additional volumes at a price that is transparent and competitive with other sources of gas. Individual cargoes do not need government authorizations, since terminals have two-year blanket authorizations. All but the Distrigas terminal are open-access. The terminals at Cove Point, Maryland, and Elba Island, Georgia, closed down in the late 1970s and are not now operating as import terminals, although the terminal at Cove Point has operated for several years as a peakshaving storage facility. However, plans have been announced for reopening both facilities by late 2002 or early In Puerto Rico, Enron Development Corp. and Edison Mission Energy are building a 540-MW power plant, the EcoElectrica project. The first phase will run on LPG; the second phase, scheduled to start up in 2000, will use up to 0.55 mta of LNG, which will be provided by Cabot LNG from its supplies from Trinidad. LNG consumption in the United States will continue to grow, driven by spot and short-term sales. The size of the market for the foreseeable future will be limited by the receiving capacity of the four existing U.S. terminals, which is in the mta range but could be expanded to 30 mta. The National Petroleum Council, an advisory committee to the U.S. Secretary of Energy, forecasts that LNG will provide nearly 3% of total U.S. natural gas Page 10 of 12
11 supply by the year 2015, or 0.9 TCF of an estimated 31.3 TCF. Some officials have put LNG s share even higher at 4% or 5%. A receiving terminal on the West Coast, planned and then abandoned in the 1970s, is reportedly again under consideration. Brazil. Gas demand, driven by power generation, has been projected to increase from 5.0 bcm in 1996 and 5.5 bcm in 1997 to 17 bcm in 2005 and 34 bcm by 2015, two-thirds of it imported. In December 1999, Gaspetro, a subsidiary of Petrobras, the state oil and gas company, and Shell announced that they were forming a partnership with $200 million capital to import LNG into northeastern Brazil. The first stage would be construction of a receiving terminal in Suape near Recife in the State of Pernambuco and a 480-MW powerplant nearby. Total costs are estimated at $600-$700 million, including $200 million for the terminal, which will have a storage capacity of 2.2 bcm and a receiving capability of 0.7 bcm/year. Several other terminals are also under consideration at different sites. Trinidad, Nigeria, and Angola are potential sources of supply. The LNG Spot/Short-term Market The past decade has seen the emergence of an LNG spot market a term that is something of a misnomer. In the oil industry a spot sale generally denotes a single cargo, whereas in the LNG industry, where 20-year agreements are the norm, deals covering multiple cargos delivered over a 6-month period or longer may be referred to as spot. Short-term may more accurately describe this type of transaction. Individual shiploads are also bought and sold, and are more justifiably called spot cargoes. Table 7 Growth of the LNG Spot/Short-Term Market (million cubic meters) Year Volumes % of LNG Exports This market has grown from 0.75 mta and 1.3% of total exports in 1992 to 3.4 mta and 3.9% in 1999, which, as Table 7 shows, was an all-time high. The leading purchaser of spot cargoes in 1999 were Spain s Enagas, with 1685 million cu, or 36% of the total. The U.S. was a very close second with 1.66 million cu m. Italy (Snam and Edison) imported 540 million cu m, South Korea and Turkey each around 300 million cu m, Japan 150 million cu m, and France 75 million cu m. Of the short-term suppliers, Qatargas led with spot sales of 1595 million cu m, up from 950 million cu m in 1998, followed by Sonatrach of Algeria with 1330 million cu m (vs. 450 million). Other exporters were Adgas (650 million cu m), Atlantic LNG (385 million cu m), Australia s North West Shelf Project (300 million cu m), and Malaysia LNG (75 million cu m). The growth of the spot market reflects a number of factors: A growing number of buyers and sellers Page 11 of 12
12 The debottlenecking of older liquefaction plants in Algeria, Abu Dhabi, Indonesia, etc. Surplus capacity in new projects (Qatargas, Ras Laffan, Oman) that will be available until purchasers take full volumes An increase in the number of Middle East projects, which can ship to Asia and Europe. Lower tolls on the Suez Canal Unmet demand in new markets, such as Spain In the United States, terminal capacity availability, ease of entry, transparent pricing, and demand The integration of the European pipeline network, enabling countries to arrange swaps The availability of spare tanker capacity in the mid 1990s. Conclusions The strength of the spot market is the most obvious sign of the new market-based orientation of the LNG industry. The continued entry of new buyers and sellers is likely to accelerate the forces of change, especially during a period of market liberalization, and engender new models and arrangements. Hosted by: Bangkok RAI : 226/25 Bond Street Riviera Tower 3, Muang Thani, Managed by: Chaengwattana, Nonthaburi Thailand Tel: (+662) , , Fax: (+662) gasex@bkkrai.com, Page 12 of 12
Lecture 12. LNG Markets
Lecture 12 LNG Markets Data from BP Statistical Review of World Energy 1991 to 2016 Slide 1 LNG Demand LNG demand is expected to grow from China, India and Europe in particular. Currently biggest importer
More informationLNG Projects & Markets Past, Present & Challenges Ahead
LNG Projects & Markets Past, Present & Challenges Ahead Presented by: Don Andress Mostefa Ouki Nexant [Part 2: Markets, Past, Present & Challenges Ahead] United States Association for Energy Economics
More informationThe Role of GCC s Natural Gas in the World s Gas Markets
World Review of Business Research Vol. 1. No. 2. May 2011 Pp. 168-178 The Role of GCC s Natural Gas in the World s Gas Markets Abdulkarim Ali Dahan* The objective of this research is to analyze the growth
More informationRIM LNG Trade Annual 2010 Edition
RIM LNG Trade Annual 2010 Edition -Contents Volume 1 = Liquefacation Terminals in the world 1. Liquefacation Terminals in Asian Pacific Region 1 United states of America(Alaska) 2 Brunei 3 Indonesia 4
More information7. Liquefied Natural Gas (LNG)
7. Liquefied Natural Gas (LNG) Figure 7-1: LNG supply chain Source; Total Liquid natural gas (LNG) is a good alternative to natural gas in remote locations or when the distance between the producer and
More informationSONATRACH PERSPECTIVES ON ASIAN LNG MARKETS
SONATRACH PERSPECTIVES ON ASIAN LNG MARKETS 65% of global gas demand growth by 2030 is expected to come from Asia, with traditional demand centers remaining stagnant Global gas demand by region to 2030
More informationMIDDLE EAST GAS 2002 DOHA - APRIL 10-11, The Market for LNG Vessels - Current and Future
MIDDLE EAST GAS 22 DOHA - APRIL 1-11, 22 The Market for LNG Vessels - Current and Future By Ian Walker, Gas Business Development, Golar LNG Ltd. Agenda 1. Golar LNG 2. The LNG market. Supply Demand Balance.
More informationTable 1 Trade movements 2004 LNG (Bcm)
LNG Prospects for the Future The prospect that LNG could become a major global energy source is one of the most keenly debated issues in the sector. This was reflected in this quarter's survey, conducted
More informationGolar LNG Ltd. The Floating Gas Pipeline The Company and the Market Presentation Carnegie November 26 th
Golar LNG Ltd. The Floating Gas Pipeline The Company and the Market Presentation Carnegie November 26 th - 200 Current Gas Prices November 200 Area Reference Price MMBtu Europe IPE Transco Balancing $
More informationPerspectives of the LNG spot Trade and Transport Market in East Asia in 2010~2015
Perspectives of the LNG spot Trade and Transport Market in East Asia in 2010~2015 Dr. Boyoung KIM Team Manager, Center for Gas Economics & Management Korea Gas Corporation (KOGAS), Republic of Korea 1.
More informationLNG Markets in Transition : Will East meet West?
LNG Markets in Transition : Will East meet West? Jean-Marc Hosanski World Conference Tokyo, June 2nd, 2003 WOC 10 Thank you Mister Chairman, Ladies and Gentlemen, Distinguished Guests, My objective today
More informationINTERNATIONAL CONVENTION ON LIABILITY AND COMPENSATION FOR DAMAGE IN CONNECTION WITH THE CARRIAGE OF HAZARDOUS AND NOXIOUS SUBSTANCES BY SEA
INTERNATIONAL OIL POLLUTION COMPENSATION FUND 1992 ASSEMBLY 92FUND/A/ES.12/9/1/Rev.1* 12th extraordinary session 15 May 2007 Agenda item 9 Original: ENGLISH INTERNATIONAL CONVENTION ON LIABILITY AND COMPENSATION
More informationLNG Market Globalization: Impact on commercial arrangements and prices
LNG Market Globalization: Impact on commercial arrangements and prices Jean Marc HOSANSKI Senior Vice President LNG GasTech 2005 - Bilbao, Thursday 17 th March 2005 General trends on the LNG planet The
More informationEnergy Market in Asia-Pacific and Canada s Potential for Natural Gas Export. Shahidul Islam
Energy Market in Asia-Pacific and Canada s Potential for Natural Gas Export Shahidul Islam Objective Examine energy demand in Asia-Pacific Especially natural gas Canada s natural gas situation Potential
More informationJapan s LNG Prices Trending Upwards
Japan s LNG Prices Trending Upwards David Wood David Wood & Associates, Lincoln UK Published in Energy Tribune December 2007 Japan is the world's largest LNG consumer and imported 81.86 bcm of natural
More informationLiquefied Natural Gas (LNG) Production and Markets. By: Jay Drexler, Dino Kasparis, and Curt Knight
Liquefied Natural Gas (LNG) Production and Markets By: Jay Drexler, Dino Kasparis, and Curt Knight Outline Purpose of the presentation What is Liquefied Natural Gas? (LNG) LNG Operations Brief History
More informationOutlook for Gas Markets
IEEJ IEEJ:Published 2015 年 7 in 月 August 禁無断転載 2015 All rights reserved The 420th Forum on Research Work July 10, 2015 Outlook for Gas Markets The Institute of Energy Economics, Japan Tetsuo Morikawa Manager,
More informationOverview of LNG in the United States
Overview of LNG in the United States Dan McGinnis, Vice President of Gas Infrastructure Tractebel Project Development Inc. Natural Gas Conference Louisiana State University October 27, 2003 What Is Liquefied
More informationEdgardo Curcio President AIEE
Edgardo Curcio President AIEE The First National Conference on Liquefied Natural Gas for Transports - Italy and the Mediterranean Sea April 11, 2013 What is LNG? The LNG (Liquefied Natural Gas) is a fluid
More informationGas Markets in 2015: Outlook and Challenges
The 418th Forum on Research Work Gas Markets in 2015: Outlook and Challenges December 19, 2014 Tetsuo Morikawa The Institute of Energy Economics, Japan Natural Gas Demand in Major Regions Natural Gas Demand
More informationRice World Gas Trade Model: Russian Natural Gas and Northeast Asia
Rice World Gas Trade Model: Russian Natural Gas and Northeast Asia Peter Hartley Kenneth B Medlock III James A. Baker III Institute of Public Policy RICE 1 Overview and motivation Worldwide, the demand
More informationComparison of Netbacks from Potential LNG Project with ALCAN Pipeline Project
Comparison of Netbacks from Potential LNG Project with ALCAN Pipeline Project June 20, 2008 Barry Pulliam Senior Economist Econ One Research 5th Floor 601 W 5th Street Los Angeles, California 90071 213
More informationReview of Natural Gas Market in Asian Pacific Region and Future Natural Gas Industry Issues in Japan
Review of Natural Gas Market in Asian Pacific Region and Future Natural Gas Industry Issues in Japan YOSHITAKE, Junji Tokyo Gas Co., Corporate Planning Dept. 1.PREFACE The 21 st century is the Asian Age
More informationHans Peter Doorneweert Vice President LNG Sakhalin Energy Investment Company Ltd.
Hans Peter Doorneweert Vice President LNG Sakhalin Energy Investment Company Ltd. Mr.Doorneweert (51) obtained his masters degree in 1974 in Mechanical Engineering at the Technical University of Twente
More information28 August Golar LNG. The Floating Gas Pipeline Increases Capacity
28 August 2003 Golar LNG The Floating Gas Pipeline Increases Capacity Pareto Offshore Seminar August 28th 2003 The Expansion Part I Page2 Page3 LNG High Growth & High Profitability LNG Trade Development
More informationGlobal LNG Market Overview
Global LNG Market Overview 27 September, 2018 Toronto stock exchange listed, global intelligence solutions Request a demonstration of Evaluate Energy at this link 1 Who we serve 2 Global natural gas supply
More information3-2. LNG in the Asia-Pacific
APERC Workshop at EWG52 Moscow, Russia, 18 October, 2016 3-2. LNG in the Asia-Pacific Favoring trade and rational market development Kirsten Smith Researcher, APERC Report Highlights Report Highlights
More informationFuture Perspective of LNG Markets & Changes in Value Chain Management. Northeast Asia Petroleum Forum Sep. 22 nd, 2005 Seoul
Future Perspective of LNG Markets & Changes in Value Chain Management Northeast Asia Petroleum Forum Sep. 22 nd, 2005 Seoul Yutaka KUNIGO Tokyo Gas Co., Ltd. High Supply & Demand Potential in Asia-Pacific
More informationWorld LNG Trade 2014 & Outlook 2015
World LNG Trade 2014 & Outlook 2015 By: Global LNG Info (GLNGI) May 2015 www.globallnginfo.com LNG Trades 2014 (1) 239.2 MMT of LNG traded in 2014, effectively flat for the third year running as reduced
More informationNatural Gas Facts & Figures. Section 3: LNG
Natural Gas Facts & Figures Section 3: LNG September 214 3. LNG Trade movements Terminals for import, terminals for exports Liquefaction, regazeification LNG Fleet Sources : Total LNG group, PGCD special
More informationWorld LNG Report industry trends-
World LNG Report-218 -industry trends- Satoshi Yoshida General Manager, International Section, Policy and Planning Department Japan Gas Association International Gas Union (IGU) Who we are Founded in 1931,
More informationSantos and PETRONAS sign historic partnership for Gladstone LNG
Santos and PETRONAS sign historic partnership for Gladstone LNG PETRONAS to acquire a 40% interest in GLNG TM for up to US$2.508 billion. 29 May 2008 1 1. Disclaimer & Important Notice This presentation
More informationLNG Markets GDF SUEZ and its LNG activities
LNG Markets GDF SUEZ and its LNG activities Paris 22 April 2013 Denis Bonhomme Executive VP Strategy GDF SUEZ LNG This presentation is not intended to provide the basis for any evaluation of GDF SUEZ or
More informationLNG in the Asia Pacific
2016/EWG52/WKSP1/004 LNG in the Asia Pacific Submitted by: APERC Asia Pacific Energy Research Centre Workshop Moscow, Russia 18 October 2016 APERC Workshop at EWG52 Moscow, Russia, 18 October, 2016 3-2.
More informationImpact of American Unconventional Oil and Gas Revolution
National University of Singapore Energy Studies Institute 18 May 215 Impact of American Unconventional Oil and Gas Revolution Edward C. Chow Senior Fellow Revenge of the Oil Price Cycle American Innovation:
More informationDevelopments in gas pipelines and LNG infrastructure for closing EU-30 gas supply demand gap
ECN Seminar Prague, June 12th, 2003 Gas Supply Security in an Enlarged Europe Developments in gas pipelines and LNG infrastructure for closing EU-30 gas supply demand gap Presentation by: Patrick Cayrade
More informationPromoting regional cooperation in the Asia-Pacific gas industry, for sustainable development in the region
Natural Gas Trade as a Catalyst for Regional Market Integration Promoting regional cooperation in the Asia-Pacific gas industry, for sustainable development in the region Norio Ichino Chairman, The Japan
More informationGas Markets Globalization: Perspectives and Limits
Gas Markets Globalization: Perspectives and Limits By: Sid Ahmed Hamdani, Senior Business Analyst, Sonatrach, Algeria Date:04 June 2012 Venue: Kuala Lumpur Towards Gas Market Globalization? Increasing
More informationNew Delhi 24 November th IEF-IGU Ministerial Gas Forum IEF Background Materials
New Delhi 24 November 2016 5 th IEF-IGU Ministerial Gas Forum IEF Background Materials Overview 1. 3+3 Challenges 2. 7 Observations on gas markets 3. What the JODI Gas Data Base Shows 4. 3 Proposals 7
More informationWORLD ENERGY OUTLOOK 2005 Middle East & North Africa Insights
WORLD ENERGY OUTLOOK 2005 Middle East & North Africa Insights Nicola Pochettino Senior Energy Analyst Global Energy Trends: Reference Scenario International Energy Price Assumptions The assumed oil-price
More informationAOG / 7 16 June In Our Most Optimistic Scenario, European Gas Consumption Does Not Return to its 2010 Level Until 2020,
AO / 7 16 June 2013 INTERVIEW In Our Most Optimistic Scenario, European as Consumption Does Not Return to its 2010 Level Until 2020, Armelle Lecarpentier, Chief Economist of CEDIAZ, tells AO u In many
More informationLNG strategy and the outlook for global gas markets
LNG strategy and the outlook for global gas markets October 16 th, 2012 Jean-Marie Dauger Executive Vice-president GDF SUEZ The LNG market Strong growth particularly in Asia An LNG market of ~550 Mt in
More informationLNG TRADE FLOWS. Hans Stinis Shell Upstream International
LNG TRADE FLOWS Hans Stinis Shell Upstream International ABSTRACT The LNG industry has witnessed a great deal of change recently, and indications are that this will only continue. Global gas demand is
More informationQatargas' December 2011 SPA with Chubu Electric and Shizuoka Gas
Qatargas' December 2011 SPA with Chubu Electric and Shizuoka Gas Alessandro Bacci, DAO s Board of Directors December 22, 2011 On Wednesday December 7, 2011, Qatargas, the world's largest LNG company owing
More informationLNG Market Outlook and Development Pierre Cotin. 3 rd Annual LNG Shipping Forum 2013, Lillestrøm, 6 June 2013
LNG Market Outlook and Development Pierre Cotin 3 rd Annual LNG Shipping Forum 2013, Lillestrøm, 6 June 2013 Who we are GLE is one of the three columns of GIE (Gas Infrastructure Europe), the European
More informationHACC/NACC SHIP CONFERENCE NEW YORK CITY - FEB. 5, Overview of the Liquified Natural Gas Market (LNG)
HACC/NACC SHIP CONFERENCE NEW YORK CITY - FEB. 5, 20002 Overview of the Liquified Natural Gas Market (LNG) By Sveinung J. Stohle, Executive Vice President, Golar LNG Ltd. Agenda 1. Golar LNG Ltd. 2. Market
More informationAtlantic LNG: Has the boat sailed? Is the US out of the LNG trade and what are the implications for Europe?
Atlantic LNG: Has the boat sailed? Is the US out of the LNG trade and what are the implications for Europe? James Osten Principal North American Energy Markets LNG Trade Different for U.S. Than Europe
More informationInternational Association for Energy Economics Luncheon Presentation April 21, 2004
International Association for Energy Economics Luncheon Presentation April 21, 2004 Recent Changes in the Natural Gas Market and the Need for More LNG in New England Mike Reimers, Weaver s Cove Energy,
More information216 IEEJ216 Key points of this report Oversupply in the international LNG market will expand further in the coming years. Upstream industry is cutting
216 IEEJ216 423 rd Forum on Research Works on July 26, 216 Outlook for Gas Market The Institute of Energy Economics, Japan Yoshikazu Kobayashi Senior Economist, Manager, Gas Group, Fossil Fuels & Electric
More informationWill the growth of LNG create a global gas market?
Will the growth of LNG create a global gas market? Chris Evans Vice President Global LNG Supply Shell Gas & Power FLAME, Amsterdam 25 th February 25 Increasing choice for consumers and producers Environmental
More informationRice University World Gas Trade Model
Rice University World Gas Trade Model Peter Hartley Kenneth B Medlock III Jill Nesbitt James A. Baker III Institute of Public Policy RICE 1 What does the model capture? World gas supply potential is large
More informationIPTC MS The Outlook for LNG Supply to Asia. Stuart Traver, Lalitha Seelam and Nick Fulford Baker Hughes Inc. and Gaffney, Cline & Associates
IPTC 17774 - MS The Outlook for LNG Supply to Asia Stuart Traver, Lalitha Seelam and Nick Fulford Baker Hughes Inc. and Gaffney, Cline & Associates Slide 2 2013 GLOBAL NATURAL GAS TRADE Units: billion
More informationSummary LNG, an increasingly important energy option in Asia and the rest of the world But challenges remain for LNG to play an expected bigger role S
Prospect and Challenges in the World and Asian LNG Market LNG Producer Consumer Conference September 19, 2012 The Institute of Energy Economics Japan Ken Koyama 0 Summary LNG, an increasingly important
More informationLNG Market Trends & Price Transparency
LNG Market Trends & Price Transparency Tokyo Fiona Poynter April 2015 London Houston Washington New York Portland Calgary Santiago Bogota Rio de Janeiro Singapore Beijing Tokyo Sydney Dubai Moscow Astana
More information[LNG MARKET ANALYSIS ] 1. LNG Market Analysis
[LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 8 th June 2018 LNG and Natural Gas Price Assessment 28 th May 8 th June 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Stable to bullish
More informationthose where domestic gas prices and affordability both in absolute terms and relative to other sources of energy are likely to restrict development of
Can Demand for Imported LNG in Asia Increase Because It is a Cleaner Energy Source? Jonathan Stern * Introduction During the period 2014-21, global LNG supply is expected to increase from around 320 Bcm
More informationOil and Gas in Australia
Presentation to the Oil and Gas in Australia John Akehurst Thursday, 9 October 2003 Location of Global Proved Oil Reserves Thousand Million Barrels as at end of 2000 Former USSR 65.3 North America 64.4
More information2011 Institute of Energy Economics, Japan - IEEJ
A Changing World of LNG Pacific Energy Summit: Unlocking the Potential of Natural Gas in the Asia-Pacific Session 2: Market Evolution and Adaptation: Contracts, pricing mechanisms, and supply security
More informationU.S. Rice Market Faces Larger Supplies and Lower Prices in 2018/19; Global Trade Projected Another Record High
U.S. Rice Market Faces Larger Supplies and Lower Prices in 218/19; Global Trade Projected Another Record High 218 Rice Outlook Conference December 5-7, 218 Nathan Childs Economic Research Service USDA
More informationLNG Producer-Consumer Conference Nagoya, Japan
LNG Producer-Consumer Conference Nagoya, Japan 22 nd October 2018 Vitol: a global leader in energy distribution For more than 50 years Vitol has distributed energy, efficiently and safely. Today, we move
More informationThe Future Role of Gas
The Future Role of Gas GECF Global Gas Outlook 24 Insights Presentation for the 3rd IEA-IEF-OPEC Symposium on Gas and Coal Market Outlooks Dmitry Sokolov Head of Energy Economics and Forecasting Department
More informationASIAN OFFSHORE ENERGY CONFERENCE DISPUTES IN LNG CONTRACTS
ASIAN OFFSHORE ENERGY CONFERENCE 28 SEPTEMBER 2017 DISPUTES IN LNG CONTRACTS Bob Broxson BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company
More informationLet's get non-technical: An economist's take on the past, the present, and the future of the industry
Let's get non-technical: An economist's take on the past, the present, and the future of the industry Erkal Ersoy e.ersoy@hw.ac.uk www.erkalersoy.co.uk Agenda» The market > The petroleum industry > Supply
More informationgas 2O18 Analysis and Forecasts to 2O23
Market Report Series gas 2O18 Analysis and Forecasts to 2O23 executive summary INTERNATIONAL ENERGY AGENCY The IEA examines the full spectrum of energy issues including oil, gas and coal supply and demand,
More informationCurrent Situation and Future Prospects of Japanese LNG Market
Current Situation and Future Prospects of Japanese LNG Market Akiyuki FUJITA *, Senior Researcher Takeharu UEDA, Researcher Nobuya NAGASAKA, Researcher Satoshi SANO, Researcher Gas Group, 1st Research
More informationThe IEA s Gas 2017 Report - LNG moves to the front
The IEA s Gas 2017 Report - LNG moves to the front Peter Fraser, Head of the Gas, Coal and Power Division EMART Energy, Amsterdam, 5 October 2017 IEA Gas in today s world The contribution of gas Versatile
More informationINTERNATIONAL ENERGY AGENCY WORLD ENERGY INVESTMENT OUTLOOK 2003 INSIGHTS
INTERNATIONAL ENERGY AGENCY WORLD ENERGY INVESTMENT OUTLOOK 2003 INSIGHTS Global Strategic Challenges Security of energy supplies Threat of environmental damage caused by energy use Uneven access of the
More informationLarge LNG plant capabilities for capacity >2 MTPA Benefit from economies of scale and proven technology
Large LNG plant capabilities for capacity > MTPA Benefit from economies of scale and proven technology Benefits to our customers: Economical Production Air Products natural gas liquefaction processes and
More informationThe IEA outlook for gas. Laszlo Varro Head, Gas Coal and Power Markets
The IEA outlook for gas Laszlo Varro Head, Gas Coal and Power Markets For gas the Asian century is just starting 3 000 Mtoe Primary energy consumption 2 500 coal gas 2 000 1 500 1 000 500 - Asia Europe
More informationNARUC. Global Liquefied Natural Gas Supply: An Introduction for Public Utility Commissioners
2009 Global Liquefied Natural Gas Supply: An Introduction for Public Utility Commissioners NARUC October 2009 The National Association of Regulatory Utility Commissioners Funded by the U.S. Department
More informationJapan-GCC States Interdependence through * Energy Security and Investment. Japan-GCC States Interdependence through Energy Security and Investment
Japan-GCC States Interdependence through * Energy Security and Investment Dr. Tsutomu Toichi Senior Managing Director & CKO It is a great honor for me to have this opportunity to make a presentation on
More informationPOTENTIAL LNG PRODUCTION FROM NORTH SLOPE GAS REPORT FOR THE STATE OF ALASKA GAS STRATEGIES
POTENTIAL LNG PRODUCTION FROM NORTH SLOPE GAS REPORT FOR THE STATE OF ALASKA BY GAS STRATEGIES Rob Shepherd, Rob Fenton, Salman Wasti, Peter Thompson, Prajakta Munshi Gas Strategies Job Number: 1425 12
More informationLNG Facts A Primer. Presentation before US Department of Energy, Office of Fossil Energy, LNG Forums. March 10, Kristi A. R.
LNG Facts A Primer Presentation before US Department of Energy, Office of Fossil Energy, LNG Forums March 10, 2006 Kristi A. R. Darby Center for Louisiana State University Overview What is Natural Gas?
More informationEnergy in Perspective
Energy in Perspective BP Statistical Review of World Energy 27 Christof Rühl Deputy Chief Economist London, 12 June 27 Outline Introduction What has changed? The medium term What is new? 26 in review Conclusion
More informationArbitrage in Natural Gas Markets?
Arbitrage in Natural Gas Markets? Yuri Yegorov University of Vienna Seminar on Energy Economics Paris, School of Mines April 13 th, 2016, 16:30-18:30 Based on article with J.Dehnavi and F.Wirl in Intern.
More informationPERP Program LNG Receiving Terminals New Report Alert
PERP Program LNG Receiving Terminals New Report Alert February 2007 Nexant s ChemSystems Process Evaluation/Research Planning program has published a new report, LNG Receiving Terminals (05/06S12). To
More informationIndonesia s Energy Requirements Part One: Current Energy Dynamics
10 February 2015 Indonesia s Energy Requirements Part One: Current Energy Dynamics Stewart Patterson FDI Associate Key Points Domestic consumption has been a key driver of Indonesian economic growth and,
More informationThe State of the Nation s Oil & Gas
Presentation to the Australian Institute of Company Directors The State of the Nation s Oil & Gas John Akehurst, Managing Director & CEO Woodside Energy Ltd. Friday, 14 March 2003 1 Location of Global
More information"The Future of Gas : A Global Challenge" Session (1) Middle East Gas Supply
FIRST DOHA CONFERENCE ^jujaji ji*ij J^ - ON NATURAL GAS ^ ^ ^ V " H
More informationDevelopment. and. Further
03 TowardGrowth Further Development and The Osaka Gas Group is actively investing in areas aimed at expanding new businesses as part of efforts to realize its long-term management vision and mediumterm
More informationTrends in International LNG
Trends in International LNG Anthony Patten, Partner, Allens Presentation to AMPLA State Conference Fremantle, Western Australia 18 May 2012 Allens is an independent partnership operating in alliance with
More informationUpstream investment trends for Japanese LNG buyers and developers Ryuta KITAMURA JOGMEC Sydney Office
0 Upstream investment trends for Japanese LNG buyers and developers Ryuta KITAMURA JOGMEC Sydney Office Australian Gas Export Outlook 2014 24 th June, 2014 Japan Oil, Gas and Metals National Corporation
More informationGAS TO POWER EUROPE. Eloy Alvarez Pelegry Secretary General UNION FENOSA gas 6 th June
Eloy Alvarez Pelegry Secretary General UNION FENOSA gas 6 th June Electricity demand and ageing of existing facilities drive new generation capacity development Environmental policies favour gas & renewables
More informationPowering Asia: The Role of Gas Address to the Melbourne Mining Club David Knox, Chief Executive, Santos. 4 February 2010
1 Powering Asia: The Role of Gas Address to the Melbourne Mining Club David Knox, Chief Executive, Santos 2 4 February 21 Asia is the Engine of Energy Growth Billions of People 1 9 8 7 6 5 4 3 2 1 World
More informationSix Keys to Floating Projects Success
Six Keys to Floating Projects Success Keys to Success The realization of has been drawing attention as a means of developing undeveloped marine gas fields and providing a liquefaction plant at sea. The
More informationNatural Gas Medium-term Outlook and Security Review
Natural Gas Medium-term Outlook and Security Review Jean-Baptiste Dubreuil Columbia University, New York, 30 October 2018 IEA Context Gas markets in the next five years Gas demand is in the fast lane,
More informationArgus Ethylene Annual 2017
Argus Ethylene Annual 2017 Market Reporting Petrochemicals illuminating the markets Consulting Events Argus Ethylene Annual 2017 Summary Progress to the next peak of the economic cycle, now expected by
More informationNatural Gas and Japanese Energy Market. Hiroshi Ozaki
Natural Gas and Japanese Energy Market - opportunities and challenges Hiroshi Ozaki Chairman GASEX 2014 Hong Kong November 19, 2014 Contents 1. Japanese gas industry: an overview 2. Changes in Energy Policy
More information7. Gas. Resources and Energy Quarterly December
7. Gas Resources and Energy Quarterly December 18 42 7.1 Summary The value of Australia s LNG exports is forecast to increase from $31 billion in 17 18 to $5 billion in 18 19, driven by higher export volumes
More informationThe increasing role of LNG in Europe. 7th US-EU Energy Regulators Roundtable Nov , New Orleans
The increasing role of LNG in Europe Agenda World outlook European demand and supply Growing role for LNG in Europe Conclusion Gas supply/demand in the world : Geographic dissociation of reserves and demand
More informationThe LNG Leader. Spring Curtis Island LNG Projects Queensland, Australia INFRASTRUCTURE MINING & METALS NUCLEAR, SECURITY & ENVIRONMENTAL
23 46 20 S 151 11 38 Curtis Island LNG Projects Queensland, Australia INFRASTRUCTURE MINING & METALS NUCLEAR, SECURITY & ENVIRONMENTAL OIL, GAS & CHEMICALS The LNG Leader Spring 2017 Bechtel has built
More informationStratégies d investissement et de portefeuille GNL Laurent Vivier Directeur du Gaz TOTAL
Stratégies d investissement et de portefeuille GNL Laurent Vivier Directeur du Gaz TOTAL MARKET OUTLOOK WORLD GAS DEMAND World gas demand in WEO-2017 scenarios Gboe Transport 1,4% Others 12% 35 CAGR 2016-35:
More informationThe global gas market price dynamics and implications for Norway
The global gas market price dynamics and implications for Norway www.woodmac.com May 2009 Kerry Anne Shanks Delivering commercial insight to the global energy industry Introduction The energy industry
More informationAsian Energy Partnership"
1 Asian Energy Partnership" Yasuo TANABE Vice President Research Institute of Economy, Trade and Industry (RIETI) October 22, 2004 2 1. Energy Challenge in Asia 2. Energy Situation in Asia 3. Issues to
More informationPresentation to the Timor-Leste. International Petroleum Conference. Woodside Energy Ltd Dili - March 2003
Presentation to the Timor-Leste International Petroleum Conference Sr. James Kernaghan Timor-Leste Area Manager Slide No: 1 Woodside Energy Ltd Dili - March 2003 Woodside Energy Ltd, the Company Formed
More informationFabio Ballini World Maritime University
Pricing on gas: focus on LNG sectors Fabio Ballini World Maritime University What are the benefits of LNG? Environmental Benefits Table 3: Compering alterative technologies and fuels Source: SSPA, TC/1208-05-2100
More informationChanges in Dynamics and Pricing of LNG in the Atlantic Basin
Changes in Dynamics and Pricing of LNG in the Atlantic Basin Andrew Williamson Head of LNG Supply, Commercial Operations & Trading Vienna, 29 January 2018 OMV Gas & Power Agenda Changes in Dynamics and
More informationASIA IN THE WORLD ECONOMY
ASIA IN THE WORLD ECONOMY Section II: Energy Classes & Topics 6. Energy Demand 7. Energy Supply 8. Case Study: China Where Supply & Demand Meet 9. Energy & The Environment ASIA IN THE WORLD ECONOMY Class
More informationFast-Changing LNG Markets: Facts, Policies and Targets
Fast-Changing LNG Markets: Facts, Policies and Targets Introduction Fast-Changing LNG Markets: Facts, Policies and Targets is an in-depth analysis of the stresses, strains and achievements in the industry
More informationOxford Institute for Energy Studies Natural Gas Programme Howard V Rogers
Oxford Institute for Energy Studies Natural Gas Programme Howard V Rogers LNG Costs, Russian Exports and Global Interactions December 9 th & 1 th 215 WE ARE: A gas research programme at a Recognised Independent
More information