Resurgent LNG rides wave of new projects

Energy markets, including the LNG trade, have been on a roller coaster ride in the 2 years since June 1997.1 Click here to enlarge imageEnergy demand in East Asia, which was growing at more than 5%/year, slowed significantly in 1998. Oil prices fell by about 50% but then rebounded in 1999 as East Asian economies started recovering and OPEC curtailed some production.Some observers have suggested that LNG has reached a critical crossroad and that its future is uncertain. Yet, although some LNG cargoes were postponed in 1998 and early 1999, the LNG trade has been enjoying a significant expansion for much of 1999.Several new supply and receiving projects are in operation, construction, or t...

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