Tag: LNG
US LNG production will more than triple by 2019 as exports boom – EIA
Texas and Louisiana lead increase in US natural gas liquefaction capacity American LNG capacity increased in 2017 as exports surged, but the industry is set for an even bigger expansion over the next two years as five new plants come on stream, boosting capacity to 9.6 Bcf/d, according to the US Energy Information Administration. In August 2017, […]
Will LNG save China from winter gas shortage and boost global LNG prices?
Colder-than-normal end of winter could further boost local LNG demand, and global LNG price China’s introduction of the ‘2+26’ cities policy earlier this year calls for restricted use of coal for both residential heating and industrial purposes. This has significant ramifications for the Chinese winter season where demand is traditionally high, according to Wood Mackenzie. […]
France’s Total becomes 2nd largest global LNG company with $1.49 billion acquisition
Total expects LNG market to grow 5% to 6% annually Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion, according to a press release. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron […]
Trump visits Beijing championing LNG exports, Alaska signs deal with China
Chinese LNG demand could reach 330 bcm by 2020, up from 206 bcm in 2016 The Trump administration has been championing U.S. energy exports as its preferred instrument for narrowing its trade deficit in the wake of the U.S. shale boom, according to Wood Mackenzie. A combination of rising export capacity in the U.S., LNG […]
Canadian LNG projects have huge energy efficiency advantage compared to warm locations
LNG projects have many factors before companies invest Canada could have a cost advantage in liquefying natural gas due to lower ambient temperatures compared to other competing regions, according to an National Energy Board Market Snapshot. Natural gas condenses into a liquid state when cooled to a temperature of -162 degrees Celsius. Facilities in cooler climates have […]
Global LNG market balancing dynamics in 2017 – McKinsey
LNG market in 2017 is clearing thanks to higher demand By Nafie Bakkali, McKinsey In the upcoming years, the growth in LNG supply already under construction is forecast to create a long market. Unlike oil and refined products, LNG storage is not economical because of the boil-off of the gas. Thus, the market must balance […]
Nexen and partners pull feasibility study on B.C. LNG project
Economic environment does not support partners’ vision of developing a large LNG business Aurora LNG and its partners, Nexen Energy and INPEX Gas British Columbia (IGBC), made a strategic decision to end the Aurora LNG feasibility study and will cease all investigation activity, effective immediately, according to a press release. Over the past four years, […]
North Korea’s military operations could affect 58% of Chinese oil production
1.5 million b/d of China’s 3.95 million b/d crude production comes from field just 200 km from North Korean border By Chris Graham, product suite director, gas and LNG, Wood Mackenzie North Korea fired a missile over Japan on 29 August signalling “the first step” of military operations in the Pacific and with plans for […]
Global gas and LNG market tightening after 2022, new LNG investment needed – IEA
Gas and LNG demand driven by growth in the East In the latest update of IEA’s outlook, they dive deep into the discontinuities that could swing the gas markets one way or another, according to the International Energy Agency. In China, the extent to which government targets on gas consumption are met could mean a […]
Petronas expects LNG market to remain oversupplied until 2023
LNG market swamped by US, Australian production The chief executive of Malaysia’s state-owned energy company, Petronas, says he expects the global LNG market to remain oversupplied until as late as 2023. With increased supply from Australia and the United States, prices have fallen; Asian spot LNG prices are now down by about 70 per cent […]
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