Australia’s liquefied natural gas exports are forecast to increase from 75 million tonnes in 2018-2019 to 81MT in 2020-2021, as the last two projects in Australia’s recent wave of LNG investment ramp up output and China increases its actual demand and the US trade dispute sees the Chinese favouring Australia for volume replacement.
Given that the shale revolution has made the United States not only the world’s top producer of oil and gas but also a major exporter of LNG, the US approach to energy policy making has shifted from a scarcity mindset that emphasised energy security to one that is attempting to maximise the benefits of energy abundance.
The United States will remain the world’s largest natural gas producer throughout the period through 2050, reaching 43 trillion cubic feet per annum, a nearly 50 percent increase with US shale-gas resources continuing to expand in the Appalachian region and in formations in and around Texas.
Argentine state-backed energy company YPF sold the country’s first LNG shipment from a floating liquefaction facility, “Tango FLNG”, and this was quickly followed by its submission to the government of a request to promote development of an onshore LNG liquefaction plant.
As the conversation on alternative fuels continues to unfold ClassNK is focusing on updating the rules that will ensure fast-emerging industry requirements meet safety imperatives, as well as the longer term research needed to reconcile vessel operations with shipping’s lower-carbon future.