Whilst BP’s recently-released 2013 Statistical Review showed LNG trade falling for the first time ever in 2012 (MEES 14 June), this will almost certainly prove to be nothing more than a blip in a long-term upward trend.
Three developments reported this week and a report by the IEA all indicate that the global LNG industry will keep growing – providing both threats and opportunities to Mideast producers. Mitsubishi Heavy Industries has restarted its LNG storage tanks business to cater to the North American shale-gas boom; BG Group has become the fourth firm to apply for a Canadian LNG export license; and US firms may turn to the courts to speed up getting export licenses – which could potentially expedite Qatar Petroleum’s plans to export LNG from Texas. (CONTINUED - 868 WORDS)
