All publications by tag «LNG»
While US demand for gas is rising because of higher industrial consumption, more than half of the production increase will be used for LNG for export. By 2022, IEA estimates that the US will be on course to challenge Australia and Qatar for global leadership among LNG exporters.
US Energy Sec. Rick Perry observed, “History teaches us that the world is not stagnant. Mexico had one of its biggest natural gas discoveries in history last week. I’ve just returned from talks with government leaders there, and I believe Mexico will become an even bigger oil and gas supplier as we go about building this new North American energy partnership.”
Qatar mounted what appeared to be a show of strength on Tuesday, when the state-owned Qatar Petroleum announced plans to raise liquefied natural gas capacity by 30 percent. Its immediate effect will be to worsen a glut on the LNG market where Australia, the United States and Russia vie.
The UK's first US LNG cargo will arrive at the Isle of Grain terminal on around July 8, according to shipping sources.
Among China's LNG suppliers Australia has fared best, with imports rising 42.7 percent in the first five months to 5.39 million tonnes, almost double that of second-placed Qatar at 2.84 million tonnes.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt on Monday cut ties with Qatar, accusing the country of supporting extremism. Qatar denies the allegations.
Qatar and Russia have long been rivals in global gas markets. Qatar's supplies came under the spotlight in the past month after Saudi Arabia cut economic and diplomatic ties, in a move ratcheting up a wider violent and diplomatic conflict in the Middle East.
Australia is set to apply LNG export controls, aimed at securing domestic supply of gas and keeping prices of the fuel in check, from January 1, the government announced earlier this week despite industry warnings about the decision's potential impact on energy investment.
According to Tatiana Mitrova, head of the oil and gas research department at the Energy Research Institute of the Russian Academy of Sciences, there will be no need for new Russian LNG or pipeline gas to Asia until 2025.
Alexey Miller, Chairman of the Management Committee of Gazprom, and Ben van Beurden, Chief Executive Officer of Royal Dutch Shell, signed at the St. Petersburg International Economic Forum 2017 the Heads of Agreement to set up a joint venture.