LNG

India is currently the sixth-largest LNG importer with deliveries of 13.5 million tonnes per annum and rising but steep economic growth has finally positioned India to expand its LNG volumes and infrastructure.

Japan is failing to find any price relief in its LNG as the cost of cargoes has jumped almost 18 percent in the past year because of high spot cargo and crude oil prices. No wonder the country is looking forward to the promised Henry Hub-linked prices of LNG from the US compared with the crude oil-indexed prices of Australian, Asian and Middle East cargoes.

The Asian share of LNG demand is expected to be more than 70 percent going forward and will coninue to exert great influence on the future global LNG market. Our graphic (right) shows where most LNG volumes will be coming from by 2025.

The top right of the photograph shows a skiff carrying Somali pirates heading at high speed towards a vessel off the coast of Oman, near where the Japanese-operated Mitsui Osk Lines. LNG carrier "LNG Aries" was fired on last week. Private security guards, former members of the US Marine Corp, were on board the vessel attacked earlier. Click to view video.

Spanish LNG market players such Gas Natural Fenosa (GNF) are aiming to improve their performances in 2012, with increasing activities in Europe outside of the Iberian Peninsula and are seeking to build on their already successful activities in South America.

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