March 2016, Vol. 243, No. 3
In The News
Half of U.S. LNG May Be Headed to Europe
Europe is set to be the key destination for LNG gas supplies from the U.S. as prices have fallen in Asia, the world’s biggest consumer of the fuel, according to global energy consultancy Wood Mackenzie. The U.S. is forecast to ship about 55% of its total LNG production, or 32 mmta, to Europe by 2020, according to Alex Munton, Houston-based principal analyst for Americas LNG at Wood Mackenzie. That’s because Europe is so close, has ample import capacity and liquid markets, and now has prices nearer to those in Asia. The U.S. will ship its first tanker of LNG from the Sabine Pass plant in Louisiana this quarter, marking the start of a wave of export projects resulting from the shale gas boom.
Comments