NATS: US LNG Imports Total 351.7 Bcf in 2008
Posted on Feb 4, 2009 in Markets and Competition | Comments Off on NATS: US LNG Imports Total 351.7 Bcf in 2008
NATS said today that US LNG imports for 2008 totaled 351.7 Bcf, which accounts for approximately 3.8% of global LNG production and makes the U.S. market the sixth largest importer of LNG in the world. Zach Allen, president of NATS, notes that despite the global economic climate, it is their expectation that “LNG producers will continue to produce, even in the face of very low prices. The only market in the world that is liquid enough, large enough, and accessible enough, to absorb this over-supply of LNG during the global summer lull is the U.S. market.” Allen also gives an initial prediction that between 450 and 500 Bcf of LNG will be imported to the United States in 2009. [Subscription required]