EIA Expects 12% Year-on-Year Decline for 2008 LNG Imports to United States
Posted on Apr 9, 2008 in Markets and Competition | Comments Off on EIA Expects 12% Year-on-Year Decline for 2008 LNG Imports to United States
In its “Short-Term Energy Outlook” released yesterday, the Energy Information Administration (EIA) forecasts that 680 Bcf of LNG will be imported to the United States in 2008, a 12% decline from last year’s import level. The EIA cites strong demand in Asia and Western Europe as a cause for the current decline and but notes that the United States is likely to receive more LNG cargos this summer as global demand slows. Referring to expected liquefaction capacity increases in Nigeria and Norway, the EIA predicts that U.S. LNG imports in 2009 will total approximately 950 Bcf.