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Abstract LNG shipments are nothing new in the face of technology. The first tanker shipment of LNG took place from Lake Charles, LA bound for Canvey Island in the UK in 1958 aboard the experimental vessel, the Methane Pioneer. So, why do people focus on this subject so much since mid 2000's? One of the key factors is technology, that reduced costs of LNG trades. More and more countries see that as a chance to diversify their imports. In 2023 Poland wants to cover over 35% of annual consumption with 7,5 bln cubic meters in LNG shipments. With this strategy there is a big chance for Poland to stop being dependent to Russia in 2023. Main forces that drive the interest for LNG shipments are: The growing concern for traditional supplies in the face of growing consumption, The effects of technology on cost reduction making previously uneconomic trades attractive, Environmental concerns, in some countries gas will replace coal in energy mix, Increasing liquidity in the global gas market, LNG trade gives new opportunities for both seller and buyer. It enables importing markets to shift trading directions thus gain energy independence as well as avoid supply shortages. Liberalization of market - influencing changes in contracts align with spot transactions drain the prices, making LNG even more attractive. On the other hand, the sellers experience completely new trading opportunities. Companies are able to engage in markets that were previously unavailable and escape adverse stockpile abundance. Aim of the research is to identify major trends in LNG industry. Forecast main course and future role of LNG and natural gas in the energy mix. Model global supply and demand 2020 - 2030. Analysis also covers incoming investments and check their potential. Research based on the available resources from GLE investment database and similar resources from other regions. Data broaden by other documents from energy companies and local statistic ministries. Model with trusted available data adjusted by current news and energy trends in Europe and in global gas industry. LNG market is expected to grow at around 1.3% annually. Global demand could increase from its current level of about 406 million tons per annum to 430 MTPA in 2025. For now natural gas is supported by policies to reduce air pollution and greenhouse gas emission and it will partly replace coal in energy mix in European countries. Today's challenge is to create liberal gas market and LNG is the answer on how to connect american, arab and european gas markets.
- Europe > Poland (1.00)
- North America > United States > Louisiana > Calcasieu Parish > Lake Charles (0.24)
- Asia > Middle East > Qatar (0.15)
- South America > Atlantic Basin (0.99)
- Oceania > Australia > Western Australia > North West Shelf > Browse Basin > Caswell Basin > Ichthys Field (0.99)
- North America > Atlantic Basin (0.99)
- (5 more...)
Objectives/Scope In recent years, there has exceptional expansion of the liquefied natural gas industry (LNG), which is largely attributed to rising demands in various parts of the world and triggered the emergence of Floating LNG (FLNG) as a faster and more cost-effective strategy for exploitation of gas resources with a huge competitive advantage in the business activities. However, the introduction of new technologies comes with new requirements for tax related issues. Methods, Procedures, Process It is a testament to the resilience and adaptableness of the LNG business to check the hypothesis that FLNG provides a method by that stranded gas discoveries will be monetized and essentially within a shorter time, lower fabrication execution risk and the entrepreneurial vibrancy that comes from competitive suppliers and approaches on FLNG. On FLNG plant cost, Brian Songhurst gives a review review of the state of the performance of FLNG after commissioning. The need for the FLNG industry to address both cost base and contractual price formation mechanisms as a viable channel for the delivery of gas is key. Results, Observations, Conclusions The impact of Independent Power Projects (IPP) in the third World nations act as game-changer in the monetization, new gas markets discoveries and increasing impact on the global gas economy. FLNG has potentials to transform the phase transition business from technical and business stand points within the economic development of remote offshore oil fields. The opportunity provided by the contractors to lease the FLNG vessel enables the smaller independent energy companies to avoid arranging project finance and carrying the asset on their balance sheet. However, it could also assist the major energy companies where current low oil prices are restricting capital investment to lease their FLNGs. Given the high level of interest in the researcher's two previous papers, this update will prove equally interesting and useful to analysts and participants in the gas sector, as floating technology continues to open new opportunities. Cost Comparison of the FLNG offerings are following a more industry standard design approach based on functional specifications and vendor standard equipment rather than client standards and design methods as used by the energy companies. The reason for the quality style approach is to position the FLNG facilities to be hired and reused by energy company. Novel/Additive Information The price of producing LNG from offshore gas reserves through the FLNG ought to be less than from onshore plants thanks to the lower CAPEX, albeit this will be somewhat offset by higher OPEX. This paper provides an update on the floating LNG sector (both floating liquefaction and regas terminals) over the past few years looking into some of the publication of the floating liquefaction (FLNG) contribution from the Oxford Institute for Energy Studies.
- North America > United States (1.00)
- Europe (1.00)
- Africa (1.00)
- (3 more...)
- South America > Colombia > Sucre Department > Lower Magdalena Basin > La Creciente Field > Cienaga de Oro Formation (0.99)
- Oceania > Australia > Western Australia > North West Shelf > Carnarvon Basin > Dampier Basin > WA-253-P Permit > Block WA-253-P > Wheatstone Field > Mungaroo Formation (0.99)
- Oceania > Australia > Western Australia > North West Shelf > Carnarvon Basin > Dampier Basin > WA-253-P Permit > Block WA-17-R > Wheatstone Field > Mungaroo Formation (0.99)
- (13 more...)
An anticipated acceleration in LNG's commoditization, driven by factors such as increased natural gas demand and newfound confidence in its potential as a marine fuel and as the cleanest of the fossil fuels, having lower emissions than either coal or oil fired power generation is expected to hand it a much larger role in global energy markets. The deployment floating liquefied natural gas (FLNG) facilities, becomes increasingly important as an option to achieve this task rather than an onshore facility. Jettyless LNG transfer concept could cut total project cost by 50%. Recent policies in Europe have encouraged the use of renewables, with gas being the obvious complementary source of energy for power generation when these intermittent sources need backup power. A supply chain is the network of LNG from the upstream to the downstream called a distribution channel have three main flows which are the product, information and the finances flow. FLNG is an emerging technology for such fast and cost effective development of technology to unlock smaller, remote or environmentally sensitive fields. LNG Monetization will be thoroughly examined. FLNG however present some novel challenges less on the technical side and more to do with the supply chain, project management, stakeholder engagement, financing, regulation and tax. Understanding regulatory, legal, financing tax issues and engaging with the relevant stakeholders well ahead of investment decisions are keys. Flexibility is also being introduced in LNG Import Terminals, which have the potential to serve as a LNG Hub where LNG is received in bulk volumes from an LNG carrier and is then distributed out through gas pipeline. This solution is applicable when the visiting LNG carrier is connected to the onshore storage without a jetty. This solution enables small-scale LNG transfers to the LNG storage on shore or to the landlocked Floating Storage and Regasification Units. The international natural gas sector was geographically divided into distinct regional markets. The US and Europe supplied mainly by pipelines and Asia supplied by LNG. For all regions, there is a striking difference between the geopolitical context of international pipeline gas business and LNG which will be detailed in this work. The FSRU is lower in cost and can be reused while the land based terminals cannot be relocated. Geopolitics is a central concern for the oil and gas sector and can be viewed as a source of both risk and opportunity as identified by EY. Collaboration in adding values to the LNG business measured by total revenue will be examined in the work.
- Europe (1.00)
- North America > United States (0.69)
- Asia > Middle East (0.68)
- (2 more...)
- Energy > Oil & Gas > Midstream (1.00)
- Transportation > Freight & Logistics Services > Shipping > Tanker (0.68)
- Oceania > Australia > Western Australia > Western Australia > Timor Sea > Browse Basin (0.99)
- Oceania > Australia > Western Australia > North West Shelf > Timor Sea > Browse Basin (0.99)
- Africa > Middle East > Egypt > Mediterranean Sea > Levantine Basin > Shorouk Concession > Shorouk Block > Zohr Field > Abu Madi Formation (0.99)
- (2 more...)
Abstract Being home to two of the largest growing economies China & India, Asian energy demand has been expanding rapidly. Unlike Japan, where natural gas contributes to 220f the energy mix, share of natural gas in China & India is below 10%. This is set to change as the governments have unveiled ambitious targets to increase the usage of gas to address the air quality concerns. As per IEA, China alone will account for 300f the growth of global gas demand by next five years. Despite the growth in domestic production, both the countries are largely depending on imports to meet the growing demand. Due to geo political issues, Asian countries prefer imports through LNG terminals than Trans National gas pipelines. Today 9 countries in Asia have LNG import terminals & met its 460f the gas demand in 2012 using LNG. Role of LNG is set to increase further with increase in demand from China & India. LNG import capacity of these two countries is to increase by more than 60% & Asia's total LNG import capacity is expected to touch 450 MMTPA by 2025. On supply side, global LNG availability has been increasing. New liquefaction plants of around 60 MMTPA are already under construction in Australia. With revolution of shale gas, more than 18 liquefaction projects have been proposed in North America most of them targeting the rising Asian demand. East Africa with huge gas reserves has potential to supply LNG for next wave of liquefaction projects that would come up beyond 2020. This Growth of LNG infrastructure in Asia along with increase in global LNG availability globally will lead to flexibility in terms of source & destination. This will in turn increase the liquidity in Asian region providing an opportunity for Hub based pricing in Asia.
- Energy > Oil & Gas > Midstream (1.00)
- Government > Regional Government > Asia Government > China Government (0.47)
Abstract Since 1995, the global LNG industry has mounted a recovery of vitality and energy few in the 1980s thought likely. Improvements in technology that lowered its incremental production, transportation, and regasification costs combined with resurgence in worldwide natural gas demand and price to force LNG into the energy limelight as never before. This paper presents an overview of global LNG capacities—production, shipping, and regasification—as of Jan. 1, 2008. It will also review world LNG markets, look at individual regions and projects, and conclude with a view of near and mid-term industry issues. 1. Introduction The nature of natural gas as a fuel restricted it to regional use throughout most of the last half of the 20th Century. Limited means of moving gas conspired with small and scattered world markets to keep the fuel cheap and often, where produced, flared as a nuisance. Even with advent of larger and longer regional, and sometimes interregional pipelines, natural gas use remained geographically constrained. Mostly in Asia and mainly due to steady growth of Japanese and Korean demand did LNG grow over the last 30 years of the 20th Century. By the end of the 20th Century, however, it had become clear to the global natural gas industry that the technical means for moving natural gas in its cryogenic state—liquefied, that is—held the potential for circumventing regional and global geographic barriers. Demand in the 1990s, pushed by public recognition of gas as a more environmentally benign fuel than oil or coal, helped force up the incremental value of natural gas (per million cubic feet/day, MMcfd; or million cubic meters). These two forces—demand and price—then combined to revive the LNG industry outside Asia from the stagnation it had largely fallen into in the late 1980s after a brief surge in the 1970s. By the late 1990s, moving supplies of natural gas as LNG from such formerly stranded areas as off Western Australia, Qatar, and West Africa to markets many miles distant over oceans and seas became not only possible but also economical. By the first decade of the 21st Century, nations with large reserves of natural gas were pushing to develop liquefaction projects, setting off waves of shipbuilding and of plans for regasification projects in market areas. This paper presents an overview of global LNG capacities—production, transportation, and regasification—as of Jan. 1, 2008. It will also review world LNG markets, look at individual regions and projects, and conclude with a view of industry issues. 2. Markets The promise of global LNG is the promise of minimal or no market-specific or geographic barriers to trade, a vision that is unlikely ever to be realized. From the beginning, long-term contracts of generally 20 years dominated and continue to characterize most commercial arrangements. But pricing references differ for Asia-Pacific, Europe, and North America. Each of these regional markets has its own pricing mechanism that reflects and reinforces geographic barriers among them. These commercial differences combined with regional concentrations of end users and with the nature of natural gas will likely prevent the kind of global fungibility found in crude oil and its products.
- North America > United States (1.00)
- Europe > United Kingdom (1.00)
- Asia > Middle East (1.00)
- (2 more...)
- Energy > Oil & Gas > Midstream (1.00)
- Government > Regional Government > North America Government > United States Government (0.69)
- Oceania > Australia > Western Australia > Burrup Peninsula > North West Shelf > Carnarvon Basin > PL WA-350-P > Pluto Field (0.99)
- Oceania > Australia > Western Australia > Burrup Peninsula > North West Shelf > Carnarvon Basin > PL WA 34-L > Pluto Field (0.99)
- North America > Canada > Saskatchewan > Western Canada Sedimentary Basin > Alberta Basin (0.99)
- (5 more...)