Several new producers are hoping to begin selling gas to Asia soon, including those in North America and East Africa, but with Russia entering this market in around 2018 at a competitive price, some may struggle.
“Sakhalin Energy is the closest LNG facility to Japan and Korea and all their exports are sold to Asia”, said Bernard Samuels, Commercial Vice President of Sakhalin Energy Investment Company. Samuels will be responding to the changes in LNG market and Sakhalin Energy’s current & future supply and developments at the Gas Asia Summit (GAS) later this year in October.
Through the shale gas revolution, North America has significantly increased its domestic natural gas production and is poised to start exporting LNG in 2015, a fact which would have seemed inconceivable a few years ago. The expansion of the Panama Canal will enable it to take conventional size LNG ships thereby providing easier access for Atlantic Basin cargoes to the higher priced LNG markets in the Far East.
“US LNG is one of the contributing factors to the emergence of new players as the potential for 'cheap LNG' means they may be able to undercut incumbent players”, said Nicholas Browne, Senior LNG Analyst, Wood Mackenzie Asia Pacific Pte Ltd.
Addressing supply routes and volumes of US gas trade to Asia, Browne will join North American gas & LNG industry players, including representatives from Cheniere Energy, Apache LNG, Bank of Tokyo-Mitsubishi UFJ and the US Department of State, on a panel discussion at the summit.
In Africa, major gas finds off the coasts of Mozambique and Tanzania have triggered hopes that LNG exports will earn billions of dollars for the impoverished region, but analysts now say there may be too many sellers for too few buyers. The summit will also address Mozambique LNG exports over the next decade as well as possible buyers in Asia that will balance the scale of demand and supply.
GAS takes place from 28 to 30 October in Singapore at the Marina Bay Sands. The event is a regional extension of the long-running Gastech Conference & Exhibition, and is the only dedicated Asian natural gas and LNG conference within the annual Singapore International Energy Week (SIEW) to address pertinent issues from the global commercial gas landscape.
Notes to Editor:
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