More liquefied natural gas should come into the
While the global recession cuts into international LNG demand, large volumes of extra production expected from Qatar in 2010 should find a home in the United States, a deeper market that can absorb imports even at times of low demand,
This could lessen the need for unconventional gas production in the
Large increases in gas production have come from shale plays in the
Analysts had expected U.S. LNG imports to fall as the boom in shale gas production in the country ramped up production forecasts. But as the world falls into recession this could change, Wood Mackenzie said.
“U.S. shale plays is reducing the need for LNG in the U.S., but at the same time LNG will come to the U.S. regardless and that will delay the full potential of shale development,” Murray Douglas, a global LNG analyst at Wood Mackenzie, told Reuters.
“A few months ago it was different because we still expected the demand in Europe and
The new findings come from Wood Mackenzie’s latest global gas model.
According to traders, spot trade in the Asian market has all but dried up, and some analysts do not expect to see a spot cargo heading to the
Distrigas last month re-exported a cargo from its import terminal in Zeebrugge, hoping to make gains from the higher prices in
This, says
“To me that [the Methania] is a strong indication that some of these markets will not have the capability to take another cargo. It is a sign of the future.”
LNG is natural gas cooled to liquid for transport in specially designed ships. It is regasified at an import terminal for transport ashore through pipelines.
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