Increasing demands of LNG on global level seems surprising for everyone, as production, pricing & clean-fuel symbol stabilized on every scale. But according to latest study released by global analysts, Rising supply & demand may bring gap in the production. In the latest “Global LNG Market Short and Long Term Outlook: Trends, Drivers and Forecasts of Supply, Demand, Capacity, Trade and Contracts to 2020” by Research and Markets, it said the current supply surplus in the LNG sector will hit the wall in 2014, where demand will go beyond supply by 75 million tones.
Environmental considerations & consciousness appears to be the key reason for growing gap in the supply pool. Since it has been noticed from last two years that China, India & South Korea have been importing huge quantity of LNG to meet their domestic demands. Apart from the environmental call, rupturing of nuclear projects in recent earthquake at Japan is also keen concerned to many nations worldwide. Targeting Nuclear as a future fuel looks threat to economical set up & disasters.
Report highlights, Japan, the UK, China, France and South Korea drove global LNG demand to rise to 248.5 million tonnes in 2011. Further in the report, it is also mentioned that global demand-supply of LNG will balance to stand at 75 million tonnes in 2020 since 28 new LNG plants are expected to go live by next five years. Report unveiled about LNG market expansions in nearly 17 new countries worldwide by 2020.
Report describes investments & technology gap as the important reason for the delaying of many upcoming projects in Asian & African continents. Output in 2012 may boost by about 5 percent, or about 12 million metric tons, to about 254 million tons, report reveals.
Entire discussion comes to end when we start search for new option as renewable sources of energy…….. Are we ever able to get ourselves out of this energy black hole?
What about Hydrates, Fuel Cell, Biogas, etc??? Shale & Oil Sands are too failed to stand on clean cum green tag. Such forecasts came just after UN Durban summit… The Big Question!
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