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Uncontrollable Price Rise can Slow Down Global LNG Demand
Apr 20, 2007
With consumers’ unwillingness to pay high prices for LNG (Liquefied Natural Gas), there may be a dramatic slow down in the global demand for the fuel, as per industry officials and analysts. They said this in a Conference on Flame energy held at Amsterdam on 13 March 2007.
They also warned that some of the biggest consumers of energy like India and China might fail to deal with the rising prices of LNG and therefore would choose to go for alternative fuel sources.
Growth of global LNG market is mainly hindered by the rising costs of converting gas to liquid form, and escalating demand in countries that produce it.
"Security of supply is not guaranteed unless buyers and end users are able to pay the price," Gaz de France V.P. LNG Didier Holleaux commented in a statement that REUTERS published on 13 March 2007.
"Demand could shrink and we can face the risk of price collapse," added he.
LNG, or gas turned in to liquid form so that it could be transported effortlessly, has been gaining momentum for the last few years since customers look to secure supplies of energy with no need to build new pipelines.
Throughout Europe, the US and Asia, either construction of LNG importing terminals is underway or the existing ones are being expanded to accommodate more quantity.
High costs of construction, sustained higher prices of oil, and an anticipated shortage of LNG prior to 2012 have buoyed up producers like Indonesia (the biggest exporter in world until 2006), to demand considerably higher long-term costs from consumers.
As per the RNCOS report “European LNG Market Analysis”, “It’s expected that the demand for LNG in Europe will reach 79 Million Tons to 98 Million Tons by the year 2020, primarily driven by the market forces namely energy security, fuel diversification policies for reducing dependence upon imported oil etc.”
This research report on “European LNG Market Analysis” provides extensive research and objective analysis of the LNG industry in Europe. The report also addresses some interesting issues for today’s global business environment such as opportunity areas for the players in LNG industry and challenges they will face in future to survive in the European LNG industry, factors leading to success in European LNG Industry, and so on.
For more information visit: http://www.rncos.com/Report/IM0304.htm
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