Prices for delivered LNG into Northeast Asia are yet to fully respond to the falling oil price, so there is more downwards momentum to come as contract prices normally lag for up to nine months, and more LNG will come on the market from Australia and Indonesia.
Since the American Bureau of Shipping report was initially issued in March 2014, significant progress has been made in North America with the use of LNG as a fuel for marine vessels.
BP has launched the 2015 edition of its "Energy Outlook" and says it expects to see the market in natural gas become more global as LNG integrates regional markets and leads to more unified global price movements.
Several associations and organizations are providing a broader choice of commercial agreements for the transportation of LNG on a spot basis.
The first generation liquefied natural gas and power supply chain for Japan started with the use of LNG supplies from Alaska’s Kenai LNG plant, Brunei LNG and the liquefaction facility on Das Island in the United Arab Emirates.
Bestobell Marine, based in Sheffield, England and a subsidiary of President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China.