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Teekay LNG Partners LP. Message Board

  • counselor711322 counselor711322 Oct 8, 2012 8:42 PM Flag

    LNG expansion overseas

    Another newsletter note:

    "[T]he Japanese aren't reducing their electricity consumption. And the leading candidate to replace nuclear-fueled power is natural gas.

    The same day Japan announced it would shutter its nuclear operations, it signed a $13 billion agreement with Russian energy giant Gazprom to build a new LNG export facility in eastern Russian port Vladivostok.

    And just a few months ago, ExxonMobil said it would spend $15 billion to export natural gas from Papua New Guinea (the first delivery is expected by 2014). Exxon also announced a joint venture with Qatar Petroleum to build an LNG terminal in Texas. It's awaiting U.S. government approval for the project, which would cost $10 billion.

    Clearly, the world is about to spend a fortune building the infrastructure to support a boom in natural gas. Analysts with the investment bank JPMorgan expect $220 billion will be spent on LNG projects in the next two years… And they produced that estimate before Japan and France announced they would cut their nuclear programs."

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