A. Blume, Editor
The continued expansion of natural gas trade is led primarily by growth in the LNG sector, which has tripled over the past 3 yr. The share of LNG volumes traded on a spot and short-term basis has increased to 32% from 27%, signaling greater liquidity in the LNG market.
A total LNG export capacity of 406 MMtpy is in place in 20 countries around the world. Around 66 MMtpy of new liquefaction capacity is under construction as of early 2019. Approximately 25 MMtpy of new liquefaction capacity is expected to come online in 2019, of which 21 MMtpy will start up in the US. Conversely, LNG regasification capacity totals approximately 868 MMtpy in 42 countries. Eight new floating regas terminals and 14 new onshore regas terminals are under construction, representing 95 MMtpy of new regas capacity.
Classification organization DNV GL expects global LNG export capacity to increase by 45% from 2017–2022 to more than 400 metric MMtpy, with 90% of the new capacity coming from the US and Australia. By 2050, this capacity is anticipated to exceed 700 MMtpy. However, concerns exist about supply and infrastructure after 2022. According to the Gas Exporting Countries Forum, approximately $500 B must be invested in liquefaction, regasification, pipeline and shipping projects by 2040. Investments will need to be made in 2019 and 2020 to ensure that gas demand can be met after 2025. For more in-depth information and forecasts for spending, construction projects and market trends in the LNG and gas processing sectors, please see the Natural Gas/LNG section of the “HPI Market Data 2020” report, published by Hydrocarbon Processing in early November. GP
Editorial Comment: The Future of FLNG: Less is More?
Global LNG export capacity is expected to increase by 45% between 2017 and 2022, to more than 400 metric MMtpy, with 90% of the new capacity coming from sanctioned projects in the U.S. and Australia. By 2050, this capacity is anticipated to exceed 700 MMtpy. Regasification capacity is anticipated to increase even more sharply.
Executive Viewpoint: Back to production: Where we’re going, we don’t need pipelines
What if a cost-effective way existed to extract and distribute natural gas, regardless of proximity to pipeline, and bring those assets back to production? What if the industry went in a direction that did not need pipelines? For those looking to monetize unproductive natural gas assets or bring unproductive wells back to production, it would be revolutionary.
Regional Focus:Australia to boost LNG exports despite domestic gas shortage
Australia is planning further increases in LNG production and exports over the next decade, despite quickly depleting reserves and a looming supply shortage in the domestic market.
GasPro 2.0: A Webcast Symposium
Following on the heels of the highly successful GasPro 2.0 Webcast Symposium in October 2018, the second GasPro Webcast Symposium 2.0 will take place on October 24, 2019.
The 2019 web event will gather experts in the fields of LNG, gas processing, and gas transport/distribution to share their operations expertise, engineering and design solutions, and technology advances and trends with our audience.
Attendees will learn about technology and operational solutions and deployments in a number of areas: plant design and expansion, construction, NGL production, optimization, sulfur removal, marine operations and separation technology.
October 24, 2019 08:30 AM CDT