06 June 2011 12:56 [Source: ICIS news]
KUALA LUMPUR (ICIS)--The global liquefied natural gas (LNG) market will likely remain tight through 2018 on the back of robust demand, particularly from ?xml:namespace>
Heightened concerns about nuclear energy in the wake of
“While it is too early to tell how much LNG demand will be impacted by the shut-in of select nuclear plants and an overall policy shift away from nuclear in select countries, the potential upside is indeed significant,” according to the PETRONAS’ World LNG Report 2010 report, which was launched at the 16th Asia Oil and Gas Conference (AOGC) in Kuala Lumpur.
Meanwhile, demand from the Middle East, Europe and Latin America is also growing, which will continue soaking up the supply that was no longer needed in the
US significantly reduced its LNG imports following a boom in domestic shale gas production.
Delays in LNG projects in
The turning point may be in 2018, when the LNG market will begin to turn soft as major Australian projects come on stream, along with 20m tonnes/year of capacity in the eastern
Other projects totalling 15-20m tonnes/year in conventional LNG are also expected to start production by 2018, he added.
AOGC runs from 5-7 June.
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