By DNV LNG-blog Energy of the future
By Lars Petter Blikom
As everybody knows, Norway shuts down in the summer. Everybody is too busy enjoying the few weeks of reasonably good weather to do any work. So when we return from our holes, it is always interesting to find out everything we missed. For the LNG industry this year, I have to say it is not much:
- Expectations to North American exports remain high because the development costs there are so much lower than in Australia.
- Everybody already knew that Woodside’s Browse project was not really shelved, it is just moving offshore, but finally it is public.
- Speaking of floating LNG units, the prospects keep popping up, with the latest addition in Nigeria.
- Cost overruns seems to be nothing but a fact of the industry, and no change this summer; Inpex’s Ichtys will cost USD 10 billion more than budgeted.
- China’s global natural gas vacuum cleaner is continuing at full speed, now with volumes contracted from Myanmar.
- T. Boone Pickens still thinks natural gas is good for trucking.
And finally, the LNG industry is stillset for a spending boom in the years ahead.
In other words, nothing surprising has happened this summer. Thats too bad, this is supposed to be a volatile industry, we are supposed to have some surprises.
Norwegians retreat to their cabins during summer. No phones.
No internet.
| DNV’s LNG – blog “Energy of the Future” will provide valuable information, analysis, and market observations throughout the LNG and shipping industries. The blog has an interest in the whole LNG value chain, from natural gas reservoirs through liquefaction, transportation, and re-gasification, to end-users. End-use of natural gas includes in particular the application of LNG directly as a fuel for shipping. |
Source: DNV LNG-Energy of the future blog
