The France-based International Group of Liquefied Natural Gas Importers (GIIGNL) said in its annual report that global LNG trade recorded its highest growth in supply since 2010 and also noted other market changes.
Prices for LNG delivered from Australia into North Asia have increased, driven by a gradual recovery in oil prices. Oil-linked pricing has been the dominant pricing mechanism in Asia since Japan began importing LNG in the late1960s as a substitute for oil in power generation.
Gasum Group, the Finland-based Nordic gas sector operator whose assets include Skangas of Norway, is advancing as a liquefied natural gas player in the Nordic market.
As of early 2018, there were 119 LNG-powered vessels in operation, with a further 125 on order, a number that will continue to grow as we edge closer to 2020 when the need to switch to alternative fuels will necessitate a change one way or another.
Potential benefits of installing recondenser equipment on LNG carriers (LNGC) and their operating patterns were covered in part one of this series for interested parties and tanker operators.