NewEnergyNews: LNG TO FILL IN FOR GAS/

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    Thursday, December 13, 2007

    LNG TO FILL IN FOR GAS

    The good news about rising LNG use: LNG is a LOT cleaner than coal. The bad news: LNG is NOT CLEAN and it is NOT RENEWABLE.

    LNG Summit: LNG key to meeting world demand to 2030
    Warren R. True, December 4, 2007 (Oil & Gas Journal)

    WHO
    Tom Cordano, president, ExxonMobil LNG Market Development Inc.

    click to enlarge

    WHAT
    In a speech to the 8th LNG Summit, Cordano predicted that as energy demand steadily rises over the next quarter century, LNG and pipeline-supplied natural gas use will rise faster than oil or coal.

    WHEN
    - World energy demand 2005 through 2030 will rise 1.3% per year (= 120,000,000 barrels of oil-equivalent per day).
    - Natural gas use 2005 through 2030 will rise 1.7% per year (whereas from 1985 through 2005, natural gas use rose 2.4% per year).

    WHERE
    - The LNG summit was in Rome.
    - Biggest increases in natural gas use will come in Asia and the Middle East.
    - Asia’s demand will continue to be led by Japan and South Korea.
    - North America and Europe will also increase natural gas use.

    WHY
    - North American domestic supply of pipeline gas and LNG will decline as will Europe’s access to Russian and North Sea supplies.
    LNG global demand will go up to 500,000 tonnes/year and Asia will account for 75% of it.
    - Technology advances in every part of the value chain over the last 3 years are driving growth: Larger, more efficient trains; larger, more efficient LNG carriers; and larger designs of terminals. Against this is the rapidly rising cost of material and labor, driving project costs up nearly 80%.

    click to enlarge

    QUOTES
    Cordano’s predictions: [North American will have [rapid decline in supplies [of domestic natural gas and Europe will have a] rapid deterioration in existing supplies from Russia and the North Sea."

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