Opportunities and Challenges for Liquefied Natural Gas (LNG)
New Horizons in Environmental and Energy Law series
Conclusion: the future looks bright for LNG as a fuel for the 21st century
As the preceding chapters hopefully demonstrate, the LNG business is both exciting and challenging, with the past decade being one of the most dynamic periods in time for the LNG industry. The start of the millennium saw a sharp increase in LNG trade as major projects came online to supply the world’s growing economies. While demand for all energy dropped sharply as the global economic recession took hold in late 2008 to 2009, the industry proved resilient by rebounding in 2010 with a record 21 percent growth rate! In 2011, the industry again showed its strength by stepping up to supply Japan with record amounts of LNG after Japan’s nuclear capacity was shut down following the March 2011 earthquake and tsunami. As this book goes to print, 2011 LNG trade data are just starting to be released with preliminary reports indicating that 2011 was another strong year of growth for the LNG industry, with LNG trade up 9.4 percent compared with 2010.
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