Global LNG supplies will expand rapidly, leading to a more competitive, globally integrated natural gas market as more projects are completed.
Natural gas production from shale gas and tight oil plays as a share of total US natural gas production is projected to continue to grow in both share and absolute volume because of the large size of the associated resources, which extend over more than 500,000 square miles.
As the Panama Canal prepares for more traffic from LNG carriers from US liquefaction plants heading for the Pacific Basin, the importance of this Central American waterway is emphasized by the continued concerns about potential choke points elsewhere on key energy routes.
Malaysian International Shipping Corp., whose LNG fleet comprises 27 vessels, has taken delivery of and additional ship and newbuild, the “Seri Camar”, the fourth in a series of five vessels with Moss-type storage tanks as the company makes advances in revenues and assets in cooperation with state energy company Petronas.
Woodside Chief Executive Peter Coleman said Australian LNG expansion was planned and he would still cooperate with Korea Gas Corp. on the Port Arthur LNG project in Texas despite a payments dispute with the Korean company.