LNG spending will reach $39 billion by 2007

The market for new LNG facilities will expand rapidly through 2007 and see total capital expenditures (capex) of more than $39 billion, according to a recent study by Douglas-Westwood, Canterbury, UK.Over the past 5 years, the LNG industry has enjoyed strong demand growth in conjunction with several high-profile projects that have resulted in a shift in focus away from the traditional Asian markets to a potentially vast market arising in the Atlantic Basin.As gas production passes its peak in North America and Western Europe, gas import demands are rising. LNG is increasingly a method of choice in satisfying growing gas demand in these regions, and following the success of plants recently...

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