While fracking technology has placed the US as the world’s largest natural gas producer, the lack of approved LNG export terminals has prevented energy companies from competing in the growing global LNG market, says an analyst with GlobalData.
According to Carmine Rositano, GlobalData’s Managing Analyst covering Downstream Oil & Gas, the global LNG capacity will increase at an average 10% per year from 2013 to 2017.
Meanwhile, the US LNG capacity will be competing with new liquefaction coming online in Papua New Guinea and Australia, with the Gladstone, Gorgon, Wheatstone and Queensland terminals increasing Australia’s LNG capacity by 10 billion cubic feet per day over 2013 levels.
Furthermore, GlobalData forecasts that the US liquefaction will only have a 5% share of the global LNG capacity in 2017, while Australia and Qatar will have 20% and 16%, respectively.
... to continue reading you must be subscribed
