The opinions expressed here are those of the author, a columnist for Reuters.
Graphic of China's LNG imports - view the table here.
Liquefied natural gas (LNG) is supposed to be a deeply over-supplied market, but it doesn't appear to be behaving as such in the major consuming region of Asia with strongly rising prices amid robust demand growth.
The Central and Eastern European region is undergoing a process of profound change in terms of its interconnected energy market dynamics. Inside this eBook, you will find 8 industry experts' comments on the constantly evolving Central and Eastern European (CEE) gas market and discover why it is the region of possibilities.
In a recent IGU report it is estimated that close to 50 FSRUs could be in operation by 2025 with the capacity to import close to 200 mtpa, which was 60% of the world’s LNG production in 2016.
The Society of International Gas Tanker and Terminal Operators (SIGTTO) was formed as an international organisation to address common problems and derive agreed criteria for best practice and acceptable standards.
LNG supply is growing rapidly on the back of expanding production capacity and will increase by another 100 million tonnes or 35% by 2020. This expansion is changing market dynamics, and LNG producers are becoming more active in opening up new markets for LNG. FSRUs hold the key to unlocking the majority of such markets, because of the effectiveness of floating regasification solutions in terms of cost and time as compared to land based LNG import terminals.
LNG market as a buyer’s market
Gas extraction and LNG projects offer challenges in developing and deploying robust and secure telecommunication infrastructure. Located in varying environments, these projects require a multitude of telecommunication infrastructure including fibre optics, radio frequency (RF), microwave, satellite and Wi-Fi. In addition, critical plant processes, environmental monitoring, regulatory reporting, cloud-based analytics and business networks which all reside on top of individual plant telecommunication infrastructure all forming part of this multifaceted network.
Operating since 2007, Reganosa’s Mugardos terminal provides the system with a natural gas capacity of 3.6 bcm per year, which is around 14% of the Spanish natural gas demand. Most recently, the energy firm has announced the launch of its LNG hub project in the Northwest of the Iberian Peninsula; aiming to provide liquefied natural gas as a marine fuel to a wide range of clients.
Disclaimer: The opinions expressed in this article solely reflect the views of the author, not of his organisation.
Warsaw is possibly the “best in class” in Europe regarding diversification of its energy supplies. The country which used to be heavily dependent on the single supplier – Russia - is currently able to receive more than 90 % of its imported gas supplies via reverse-flows from Germany or in the form of LNG.
The 2014 EU-wide stress tests established that a year-long Ukrainian transit shutdown does not result in any loss of load in most of the European continent, with the exception of some strongly affected countries in South Eastern Europe (SEE) – “a loss of load up to 26 bcm”. This is only 7% of EU’s total annual consumption but it is vital to 6-8 countries which are still dependent on a single (Russian) gas source at a ratio of between 65% and 100%.
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