LNG Developers Plan to Meet Long-Term Energy Needs Despite Decrease in Imports
The Wall Street Journal says that despite a drop in LNG spot cargos reaching the United States in recent months due to a mild winter and excess stored supply that may adequately fulfill peak consumer demand this summer, LNG developers intend to participate in all aspects of the supply chain to accommodate long-term energy needs. “Neither the weather nor the level of storage in 2006 is going to have anything to do with long-term factors,” said Neal Schmale, chief operating officer of Sempra Energy. Schmale added that “the North American continent is resource constrained,” and analysts anticipate LNG to remain a viable long-term source of energy supply. However, industry analysts are concerned that the recent trend toward global spot market transactions may mean less imported supply for the U.S. [Subscription required]