The combined nameplate capacity of US LNG projects is on track to triple to around 70 million tonnes per annum in 2020 and all six plants are expected to be operational by the end of 2019, and production will continue to ramp up in 2020.
Within the natural gas industry, the fastest growing source of supply will be LNG, which is anticipated to grow at approximately 4 percent annually, providing a flexible energy solution to meet the needs of many countries.
The liquefied natural gas shipping market is being affected by the changes that have occurred in LNG trading in recent years, with increasing demand for flexibility in supply and contracts of shorter duration.
The Coral South Floating LNG export project, whose development offshore Mozambique is led by Italian energy company Eni, begins production in 2022.
India began importing liquefied natural gas in 2004 and since then a lack of connectivity for the LNG receiving terminal infrastructure has led to supply limitations in the country standing by the increase is US LNG shipments, especially from the Cove Point plant in Maryland.
The cryogenic full-containment tanks used for storing LNG are large, complex structures with a typical capacity of between 30,000 and 200,000 cubic metres.
The world demands better commitment and greater responsibility towards sustainability and environmental protection globally. This has created a huge demand for cleaner energy such as liquefied natural gas, which has significantly lower nitrogen oxide and carbon emissions, as compared to coal and oil.
The liquefied natural gas supply market is a constant challenge for designers of floating LNG facilities, due to its ever changing requirements and needs.
A confluence of factors, both domestic and international, are driving optimism in the natural gas market.