Global liquefied natural gas supplies are forecast to grow strongly over the next few years, led by projects coming on stream in Australia and the US, with trading in the sector expanding seven times faster than pipeline gas trade.
Australian has raised its forecast for liquefied natural gas exports for fiscal 2018 by 35 percent a year for the next two years. The total is set to rise to 67.3 million tonnes as three additional LNG projects are expected to commence production by mid-2018.
After the shortages of Argentinian natural gas imports in the 2000s, three Chilean companies, one state-owned and two privately-held, built the first LNG import terminal in South America.
Dominion Cove Point LNG is integrating a single natural gas liquefaction train of 5.25 million tonnes per annum of production capacity into its existing import facility, which has send out capacity of 18.7 billion cubic metres a year and 690,000 cubic metres of storage capacity.
Japan’s influential Ministry of Economy, Trade and Industry has published a 20-page report summing up the latest views of the major players on the state and direction of the liquefied natural gas industry in 2017 and beyond.