Liquefied natural gas (LNG) – A tight market ahead?


The difficulty faced by delegates at the Copenhagen Climate Change Conference in trying to formulate a new international treaty was predicted, by the many who believe that instead of trying to increase the cost of dirty energy, we should rather strive to reduce the cost of clean energy.

While the high priority and global attention focused on this event acknowledges climate change as a real threat, it also admits a dependence on fossil fuel that is going to be very difficult to break.

Undoubtedly, natural gas is one of the most benign of the hydrocarbon fuels that are extracted from the bowels of the earth, in terms of greenhouse gas emissions and other environmental effects. Coal is by far the most abundant fossil fuel, but with proven reserves exceeding 63 years at 2009 production levels, natural gas holds a comfortable second place.

Significant growth in the size of reserves can still be expected, as new understanding of shale deposits acquired recently in the US allows for exploration of these resources in the rest of the world.

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