Report: Expanding Global LNG Market Will Draw More LNG to the United States
Posted on Jul 5, 2006 in Markets and Competition | Comments Off on Report: Expanding Global LNG Market Will Draw More LNG to the United States
LNG imports accounted for 2.5% of U.S. natural gas supply in 2005, but a report by the International Energy Agency predicts that 9% of North American gas consumption will consist of LNG imports by 2010 due to “the gradual depletion of traditional sources of natural gas for the United States’ market” and the expanding global LNG sector. However, the IEA notes the difficulty in making accurate predictions regarding LNG because of the global market’s “spectacular” growth over the past five years, citing a 75% increase in the number of LNG vessels over the last five years. Read more about the report in yesterday’s Aberdeen Press and Journal. [Subscription required]