Faced with low prices in an oversupplied market, the LNG industry is innovating in a big way to stay afloat. It is experimenting with floating LNG infrastructure, which are easier to build and cost much less than traditional LNG import terminals, even as it makes commercially feasible tapping of stranded offshore gas discoveries.
Facing acute energy shortages, Pakistan plans to ink multibillion-dollar LNG supply contracts with Nigeria and Algeria
Demand for new LNG carriers is expected to pick up over 2017-21 period as supplies begin from new projects in coming up in Australia, Russia, East Africa, the US and Canada and the ranks of gas-importing countries swell .
Petronas, which has more than two decades of strategic partnerships in India, is enhancing its business strategy to strengthen and expand its presence in the world’s fastest-growing economy, said its President and Group CEO, Datuk Wan Zulkiflee Wan Ariffin, in a press release issued on Thursday.
Australia’s AGL Energy said on Thursday it has provisionally picked a site in the southeast of the country to build a jetty to import liquefied natural gas (LNG), a project set to cost A$250 million ($197 million).
Malaysian governmentowned Petroliam Nasional Berhad, better known as Petronas, is looking to expand its operations in India by entering into more longterm contracts for supply of liquified natural gas (LNG) and scaling up its lubricants business.
Malaysia’s national oil company Petronas plans to look for equity partnerships in the liquified natural gas (LNG) infrastructure segment in India. To expand its presence in the country, the company is also looking to secure long term LNG supply contracts.
Gail India is seeking renegotiation of LNG procurement contracts that it had signed with US suppliers before the global energy market started its descent in the middle of 2014.
South Asia is emerging as a hot LNG market, offering hope of relief to the exporters reeling under oversupply.
Indian Oil Corp Ltd said it is in talks with its partners to scout for an alternative, cheaper site for the Pacific Northwest LNG terminal after the recent pullout of the lead developer cast doubt on the future of the Canadian project.