Saturday, January 21, 2012

The Second largest importer of LNG is....... South Korea

If natural gas is the “wild card” in the total energy picture of North America, then liquefied natural gas (LNG) could well be the ace waiting to be played. LNG offers Canada, the United States and Mexico the chance to supplement their domestic production with relatively low-cost natural gas purchased from a diverse range of countries. The LNG infrastructure is already in place in North America, with existing LNG import terminals operating in the United States providing critical incremental natural gas supplies for peak seasonal use. The global LNG industry is increasingly competitive, transparent, efficient and flexible, and new LNG import facilities that are under development, planned or proposed in each of the three countries of North America will undoubtedly add impetus to these trends.
Even the most conservative forecasts call for Canada, the United States and Mexico to allocate new and larger sums of dollars and pesos for domestic natural gas resource development in the years ahead. The nature of these investments will help dictate the growth rates of the three largest economies of North America. LNG deserves careful scrutiny, as do issues such as pipeline capacity, operating specifications, and defining the scope of environmental responsibility. And while the precise road map remains to be charted, the ultimate goal is clear: a North America where open, competitive and transparent markets contribute to supply demand balances and long-term energy security.

1 comment:

Anonymous said...

Fracking for gas, gives us free home heat. You can light the water out of your faucets on fire. Fracking poisons the clean underground water, for absolute miles. People get so ill, they have to wear respirators. Fracking uses a obscene amount of water. Fracking is blamed for starting earthquakes.

However, they have put in a LNG facility in Kitimat, BC.

How true. Man is the most destructive animal on earth, and the most stupid one at that.