... billion cubic metres to Europe during the same period.
This difference poses a risk both for Nord Stream 2 and for Russian gas exports to Europe as a whole. The United States hopes to increase LNG exports and become the main supplier of liquefied natural gas to the global market. There is information that U.S. companies have submitted applications to the Department of Energy (DOE) for licenses to export LNG produced at their plants, the
total capacity
of which amounts to approx. 383 million tonnes per year. However, given the current state of affairs on the markets, the gas will go largely unclaimed. On the one hand, there is nowhere for the gas to ...
... contribute to the implementation of the Clean Power for Transport Package by producing less emissions), however, the EU is ready to propose new services such as reloading, virtual gas pipelines, trans-shipment, bunker ship loading and LNG refueling. While LNG infrastructures continue to develop, its underutilized capacity raises the question whether the EU have enough interconnections for energy security. Due to being a part of the global gas market (and, thus, being dependent on global demand and supply), the logistic of infrastructure interconnectedness is fairly important for the EU. Thus, these infrastructures have to be economic and have to directly answer market needs. Today, however,...
... have been doing so for ~20 years with success. Russia has only surveyed the Far East a little and is yet to find the critical gas hydrates. Secondly, as waters warm it may open up some industries like energy and shipping, but affect others like fishing. In warmer waters the fish will swim out more from the shores and out of the ... ... production as it is only producing single digits output vs. 45 million tons extracted by Russia. In fact, Alaska’s Kenal LNG Terminal was closed due to its inability to compete against the new Sakhalin LNG. Moreover, competition in the near future ...
... party without invitation. In all, China faces a tricky game of manipulation as it cannot be inert as it is constantly fighting energy shortages or strain from rising prices for its 1.35 billion people, but too much action may break the thin layer of ice ... ... we know Asia is a leading producer of low-cost consumer goods. Also, in the last decade the world has recorded an upsurge of LNG tankers with Indonesia, Malaysia, Qatar and Australia shipping liquefied gas via Malacca to Japan and Korea. In all, most ship types are growing in demand with Khalid (2009) even underlining that by ...
... essence flooding the market and leading to old contracts to be renegotiated more robustly. Lastly, Europe’s notorious Third Energy Package is set to split gas transmission and storage from commercial activities. This will create a single trading hub as LUKoil points out for the entire ... ... posts stress there are serious problems for certain suppliers in financially breaking-even with such setup.
Hot Subzero LNG
Over the last 10 years LNG-liquefaction capacities increased by 2.5 times around the world to 360 bcm. Major commissioning ...
... at 490 Mt. ES-2030 shows that by 2030 Russia aims to supply 20-25% of Asia’s oil from the current 6% – with China being the main consumer. Further, by 2020-2022 the figure should be around 14-15%. Gas wise, it is amazing that Russia, the energy superpower, sells no pipeline gas to Asia, and only marginally sells LNG from 2009. By 2020-2022 Russia ambitiously aims to reverse this trend by supplying 16-17% of Asia’s gas – with the figure rising to 19-20% by 2030. In all, this shows a positive trend as Russia must diversify its eggs among more than one ...
... explode by 77% since January 2011, with a total of 7% of GDP going to import of energy (See: CNBC). Japan’s interest in US exports has soared, but so far there are few opportunities as out of the 17 projects that have applied for a permit to export LNG to countries "without a free-trade agreement with the US", only one (Cheniere Energy’s Sabine Pass Louisiana) has been awarded the right (See: FinancialTimes).
For Russia and other traditional natural gas exporters, US reluctance to export is helping, but to repeat this may not be for long (See: Energy Tribune). On the bright side, signs have emerged that Russia may cut export duties to lower the price of oil (which faces competition from shale oil),...
... breakthrough has finally come to fruition.
In 2000 shale gas accounted for less than 1% of the US energy mix, but in 2011 this figure has exploded to 34%, or 214 billion cubic meters. Currently, 16 US states have shale operations. As a result, US natural gas imports fell by 45% whereas LNG import decline by 19% since shale inception. Impressively, by 2015 the overall energy figure should increase to 43% and by 2035 to 60% – if correct, making US the leading gas producers in the whole world, although that is a very high target.
Characteristics of US Market:
First crucial reason for Shale Revolution occurring ...
... for the energy giants to participate. Finally, perhaps if Russia continuous to do well with its demographic campaign it may offset some of the costs by developing a local economy and demand, thus making exports less expensive.
- Liquefied Natural Gas with Asia on Route:
LNG demand will increase, particularly in Asia, as developing economies will search for more energy. As a consequence other LNG users will see price rises, for instance Japan will see continuous increases in prices for the next 20 years; especially now as it is disabling its nuclear reactors after the Fukushima Disaster. It will have a serious ...
... immediate Mayan apocalypse as some may have felt, but in today’s world things change quickly making one ponder – what must be done to stop any changes, how to adapt to them if they occur and what if sceptics are right?
«Oil and Gas Dialogue: Russian Gas in the European Market» Joint International Forum held at IMEMO RAN conference hall on 7th December 2012; moderated by Ivanova N. I., RAN Academic and Associate Director of IMEMO RAN, and Eric Dam, General Director of Energy Delta Institute.
Optimism Remains Thin in the Air:
As the world continues to scuffle against the most severe economic crisis, optimism remains thin in the air, conceivably as uncertainty is easier to sell. The IMEMO RAN forum was no different,...
