World's LNG industry surges, pushed by confluence of factors

Worldwide LNG demand is surging, driven by several factors:Substantial reduction in LNG costs over the past decade.Favorable economics of gas fired, combined-cycle power generation.Restructuring of the gas and electricity industries, especially in Asia and Europe.Surplus production in LNG plants driving the spot trade.Gas producing companies' desire to monetize their gas reserves.Prospects for natural gas pricing that will support greater gas production and the costs of liquefying it for world trade. Strong economic growth, especially in India and China.In 2003 global LNG demand surged 10.8% to a record 125 million tonnes, or 155 billion cu m (bcm), several times faster than world gas...

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