Stories tagged with "lng market"

Portugal getting a hand on Venezuela's energy riches

Posted by Luis de Sousa on May 23, 2008 - 8:58am in The Oil Drum: Europe
Topic: Policy/Politics
Tags: edp, galp, hugo chavez, josé sócrates, lng market, lng supplies, lng terminals, orinoco, portugal, venezuela [list all tags]

In advance of the European Union – Latin America and Caribbean summit, the Portuguese prime minister, José Sócrates, visited Venezuela. During two days, more than twenty economic agreements were celebrated between the two countries, where energy had a major role.

Among the entourage where representatives of some of the largest companies operating in Portugal, with the objective of firming protocols in the vein of “oil for goods”, towards which the Venezuelan executive has been showing great openness.

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LNG To The Rescue?

Posted by Dave Cohen on November 27, 2006 - 5:27pm
Topic: Supply/Production
Tags: fungibility, liquefaction, lng, lng market, regasification, shipping, us imports [list all tags]

As even a casual reading of the story The North American Red Queen: Our Natural Gas Treadmill indicates, the importance of future Liquified Natural Gas (LNG) imports to North America can hardly be overstated.


Declining U.S. Lower 48 Natural Gas Production
Source: North American Oil & Gas Plays Focus on the Non-Conventional (pdf) from IHS Energy
The decline in output is 2.2 trillion cubic feet (TcF)
off the 2002 baseline
Figure 1 — Click to Enlarge

This story will discuss the emergence of a globalized LNG market and the ability of that market to supply the high volumes of LNG that the United State will need to avoid future shortfalls. Will such a globalized market really come to pass? What form will it take? What does the current LNG market look like? How will the United States become integrated into the expanding LNG trade? These are the questions we shall examine here.

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