August 2014, Vol. 241, No. 8

Features

LNG Buyers Continue To Seek Price Relief

Liquefied natural gas (LNG) buyers continued to show no love to sellers at the Gastech Conference and Exhibition held in South Korea recently. “The price of energy has escalated 170% in the last five years for major Asian buyers,” said Sheng-Chung Lin, chairman of CPC Corp., Taiwan’s state-owned LNG importer. He added this has eroded the national competitiveness of five of the world’s dominant LNG buyers: Japan, South Korea, China, India and Taiwan. Seok-hye Jang, chief executive of Korea Gas, the world’s No. 1 buyer of LNG, said the Asia standard of pricing LNG slightly below the energy-equivalent crude-oil price has resulted in the world’s

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