1. Text: | Print|

      Liquefied natural gas is new energy darling

      2013-10-18 10:09 China Daily Web Editor: qindexing
      1

      Asian demand, especially by China, is exploding, but benefits to the nation are years away

      The global liquefied natural gas war is heating up with an increasing number of companies adding to their production capacities, driven by the growing demand from Asia. But analysts say it will still take years until China can really gain benefits from the expansion.

      Globally, the new LNG supplies are expected to come from the eastern Mediterranean and East Africa, said a report released by Ernst & Young Advisory Pte Ltd, the global assurance, tax and transaction service provider, on Wednesday.

      The United States government has approved four LNG projects - for SabinePass, Freeport, Lake Charles and Cove Point. Full export permits and with others on the waiting list likely to get permits by the end of 2013, have prompted industrial insiders to express hopes the increasing US supply can boost the market and ease China's natural gas shortage problems.

      However, they add little will happen soon.

      Usually, companies sign long-term supply contracts with clients before they start construction of LNG projects because of the huge costs, which are much higher than those of crude oil projects often based on short-term trading.

      According to Sanjeev Gupta, the Asia-Pacific oil and gas chief of Ernst & Young Solutions, the four US LNG projects have no Chinese buyers at the moment.

      In the last year, China imported LNG mainly from Qatar, Australia, Indonesia and Malaysia at an annual rate 20 percent higher compared with the previous year.

      The Chinese government is trying to increase more imports from Central Asia, according to a statement by the National Development and Reform Commission on Monday.

      As an energy-hungry country with a fast growing economy, China has been working hard to increase and diversify its natural gas imports.

      The Chinese government has urged the three big oil and gas companies to increase LNG infrastructure construction to ensure supplies especially in winter.

      By the end of 2012, China's LNG production capacity was 23.73 million cubic meters a day. LNG prices have been rising because of a shortage of supplies, according to Sublime China Information Co Ltd, a domestic commodities consultancy.

      In addition to Japan and South Korea, which are traditional LNG importers, China and India have been growing LNG imports in recent years.

      According to a report from ExxonMobil Corp, the annual global LNG demand will reach 600 million metric tons, with 75 percent coming from Asia.

      "Everybody is trying to add capacity to supply the Asian market, especially China," said Dale Nijoka, global oil and gas sector leader with Ernst & Young.

      "Africa can be a potential supplier of natural gas," said Nijoka. "The good news is they have found natural gas in Africa, while the bad news is there is not any appropriate infrastructure there."

      At present, it seems few new routes will be added to China's natural gas supply structure, said Nijoka.

      According to Ernst & Young, in addition to the US LNG projects and the new possible supply from East Africa, there are several new LNG projects proposals in Canada. The traditional exporter, Australia, is witnessing significant cost escalations in its LNG sector, mostly pressured by new LNG supplies coming up.

      To meet the growing demand for natural gas, the Chinese government has ambitious plans for the development of the unconventional energy source.

      Many big companies including foreign ones, have shown an interest. However, experts from Ernst & Young said there are several challenges including mineral rights, controlled prices, water shortages and infrastructure.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 无码国模国产在线观看免费| 免费成人福利视频| 亚洲第一福利网站在线观看| 亚洲av色香蕉一区二区三区| 亚洲第一成年免费网站| 亚洲成人黄色在线| 国国内清清草原免费视频99 | 亚洲av专区无码观看精品天堂| 国产一级片免费看| 亚洲精品国产成人专区| 日韩在线永久免费播放| 亚洲毛片无码专区亚洲乱| 国产91免费视频| 亚洲欧美日韩一区二区三区在线| 午夜视频免费观看| 国产成人+综合亚洲+天堂| 亚洲熟伦熟女新五十路熟妇 | 无码人妻久久一区二区三区免费 | 精品亚洲视频在线观看| 中文字幕版免费电影网站| 国产AV无码专区亚洲Av| 18级成人毛片免费观看| 久久亚洲精品国产亚洲老地址 | 亚洲成aⅴ人片久青草影院| av午夜福利一片免费看久久| 国产亚洲精品资源在线26u| 亚洲精品国产免费| 亚洲熟妇少妇任你躁在线观看| 又粗又大又硬又爽的免费视频| 黄色网址免费在线观看| 亚洲网站在线播放| 国产精品色午夜免费视频| 国产精品免费视频观看拍拍| 亚洲综合一区二区精品久久| 日韩一区二区在线免费观看| 中文字幕在线免费看线人| 色在线亚洲视频www| 精品亚洲一区二区三区在线播放| 在线观看永久免费| 免费无码国产V片在线观看| 亚洲精品在线观看视频|