Australia may have to demonstrate more flexibility in its liquefied natural gas industry as it moves forward and becomes the world’s largest producer, with one area identified as spending on developing more natural gas reserves and importing volumes or shipping domestic cargoes from west to east for the domestic market.
The International Gas Union, the body that promotes the use of natural gas and LNG to support global economic progress and human wellbeing and health, has completed important research showing the benefits of shifting from coal to natural gas for residential and industrial energy.
LNG importer Argentina is planning to launch its first offshore licensing round in almost three decades in mid-2018 in the hope of developing fields off its Atlantic coast like those in neighbouring Brazil and to complement its growing efforts in producing energy from onshore shale plays.
Liquefied natural gas will play a crucial role in being a fuel for transport and power generation as new technologies are applied to more efficient hydrocarbon production and for vehicle and maritime transport.
LNG carriage at sea is struggling to minimize cargo consumed onboard during sea transport, compared with the decades when the LNG shipping fleet consisted only of steam-powered ships.