Japan is failing to find any price relief in its LNG as the cost of cargoes has jumped almost 18 percent in the past year because of high spot cargo and crude oil prices. No wonder the country is looking forward to the promised Henry Hub-linked prices of LNG from the US compared with the crude oil-indexed prices of Australian, Asian and Middle East cargoes.
For the second year in a row, all Asian countries with facilities recorded a growth in LNG imports, especially China and India, as weak demand in Europe provided swing supplies for Asia, according to the International Group of Liquefied Natural Gas Importers (GIIGNL).
To meet the world’s future energy demand, expected to triple from 2000 to 2050, more of all forms of energy will be needed, including developing more gas reserves.
Within the context of a significant growth in natural gas demand, Argentina has been conducting activities in the LNG market since 2008, when the first regasification operation using a Floating Storage and Regasification Unit took place in Bahia Blanca, a city located 700 kilometres to the south of Buenos Aires.
The use of LNG as ship’s fuel is one of the really hot topics nowadays, and we see it becoming a reality step by step.
Most LNG production takes place in large-scale plants using the Air Products (APCI) C3MR® and Conoco Phillips cascade technologies. These plants have single Train LNG outputs of up to 7.8 million tonnes/year and all have been built onshore.