Energy for the 21st Century

Energy for the 21st Century

Opportunities and Challenges for Liquefied Natural Gas (LNG)

New Horizons in Environmental and Energy Law series

Susan L. Sakmar

Countries around the world are increasingly looking to liquefied natural gas (LNG) – natural gas that has been cooled until it forms a transportable liquid – to meet growing energy demand. Energy for the 21st Century provides critical insights into the opportunities and challenges LNG faces, including its potential role in a carbon-constrained world.

Chapter 5: Global LNG demand and emerging demand markets

Susan L. Sakmar

Subjects: environment, energy policy and regulation, environmental law, law - academic, energy law, environmental law

Extract

Until about the late 1990s, LNG was a niche industry operating mostly in the Asia-Pacific region. As the world entered the 21st century, however, global demand for LNG surged in a “perfect storm” created by the industrial and commercial boom around the world that resulted in an ever-growing appetite for all energy resources. Between 2000 and 2008, the LNG industry entered a period of rapid growth with huge increases in supply coming from a growing number of LNG producing countries. The number of LNG exporting countries grew from 8 in 1996 to 15 at the beginning of 2008. The number of importing countries also grew, with the United States expected to become one of the largest LNG importers. To supply the growing number of LNG importing and exporting countries, more players entered the LNG business and, as indicated by the list in Appendix D, today there are quite a few companies involved in the LNG business.

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