LNG trading : overview and challenges

Journal article

The Need for LNG

In the 27 countries of the European Union, growing demand for gas over the next decade or so will create a need for new import projects covering 140 bn m³ p.a. – needs which are not going to be covered by Russian and Norwegian imports alone. Diversification is required to avoid a singular dependency, which is not conducive either to supply reliability or to an acceptable price level. This is why international corporations are looking to North Africa, West Africa, the Middle East and Asia for new sources of supply. That being so, there are five countries – Iran, Qatar, United Arab Emirates, Nigeria and Algeria – which now number in the world’s Top Ten in terms of natural gas reserves. However, it is from these countries that the delivery of gas is usually made by ship, in the form of LNG (liquefied natural gas), and not by pipeline.

Authors: Wietfeld, A; Fenzl, N

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Oxford Institute for Energy Studies
• Journal: Oxford Energy Forum
• Volume: February 2009
• Issue: 76
• Pages: 16-19
• Publication date: 2009-02-01
• Edition: Publisher's version
• ISSN: 0959-7727
• Language: English
• Keywords: OIES