North Sea Brent crude oil at $60 a barrel or lower means oil-linked LNG supplies are heading almost below contracts priced at the US benchmark Henry Hub when liquefaction and shipping costs to Asia are added.
The sub-Saharan region of Africa accounted for almost 30 percent of global oil and gas discoveries made over the last five years and LNG exports onto the global market are expected to triple by 2040 to around 95 billion cubic metres, or over 70 million tonnes of LNG, the International Energy Agency said in its Africa Energy Outlook.
Rolls-Royce has a long history of providing power to the offshore Oil & Gas Industry with the RB211 and Avon industrial gas turbine products.
Energy majors are already developing the LNG fuel market in US and elsewhere
Demand for LNG is strongly supported by not only emerging economies but also by countries all over the world considering an eco-friendly energy source.
Recent worldwide growth in natural gas consumption has led to a significant change in LNG supply and storage requirements. To meet the new demand, a broad range of innovative solutions, including small and mid-scale developments to meet regional requirements, and large LNG Hubs are under consideration.