{"id":31699,"date":"2018-02-28T07:08:43","date_gmt":"2018-02-28T12:08:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31699"},"modified":"2018-02-28T07:08:43","modified_gmt":"2018-02-28T12:08:43","slug":"something-unexpected-just-happened-in-lng-markets","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31699","title":{"rendered":"Something Unexpected Just Happened In LNG Markets"},"content":{"rendered":"<h3><a href=\"https:\/\/oilprice.com\/Energy\/Natural-Gas\/Something-Unexpected-Just-Happened-In-LNG-Markets.html\">Something Unexpected Just Happened In LNG Markets<\/a><\/h3>\n<picture><img decoding=\"async\" class=\"singleArticle__articleImage\" title=\"LNG\" src=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/42600ef903f5f01894af8ae762420695.jpg\" alt=\"LNG\" \/><\/picture>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>In the increasingly topsy-turvy world of liquefied natural gas (LNG) markets, the world\u2019s largest LNG importer could soon be exporting the super-cooled fuel to the world\u2019s second largest LNG exporter \u2013 a situation unimaginable, even laughable just a few years ago.<\/p>\n<p>On Monday, <a href=\"https:\/\/www.reuters.com\/article\/australia-lng-japan\/japanese-firms-in-consortium-to-bring-lng-to-australias-east-coast-idUSL4N1QG1AH\">news broke<\/a> that a Japanese consortium, made up of JERA, the world\u2019s largest private LNG buyer, and Marubeni Corp., were planning to export gas to industrial users on Australia\u2019s eastern coast. There is even a possibility that the Japanese consortium will construct an LNG import terminal in New South Wales (NSW), Australia\u2019s most populous state.<\/p>\n<p>A report three days ago in <a href=\"http:\/\/www.afr.com\/business\/energy\/a-forrest-of-east-coast-gas-disruption-20180225-h0wm70\"><em>The Australian Financial Review<\/em><\/a> said that the proposed terminal\u2019s imports could represent up to 75 percent of NSW\u2019s gas demand, while plans to increase the number of gas-fired power stations will increase that demand pull.<\/p>\n<p>How could Japan, for all practicable purposes a hydrocarbon anemic country with scant oil and gas resources, import gas to oil and notably gas rich Australia?<\/p>\n<p>The answer is straight forward: In an effort lock in lucrative prices for LNG in the Asia-Pacific region amid limited supply around the start of the decade, Australia went on an LNG export project development feeding-frenzy. Since the country doesn\u2019t have an energy master plan there was no coordination on these massive CAPEX export projects. Adding insult to injury, budget blowouts and cost overruns since then have been the norm, casting further doubt on the wisdom of Australia having as many as <a href=\"https:\/\/www.appea.com.au\/oil-gas-explained\/operation\/australian-lng-projects\/\">ten major LNG export projects.<\/a><\/p>\n<p>As a result, Australia will soon overtake Qatar as the world\u2019s largest LNG exporter, with more than 80 million tons per annum (mtpa) of <a href=\"https:\/\/www.eia.gov\/beta\/international\/analysis.cfm?iso=AUS\">liquefaction capacity.<\/a> Qatar, however, and likely for geopolitical reasons as much economic, has vowed to increase its production capacity from <a href=\"https:\/\/www.eia.gov\/beta\/international\/analysis.cfm?iso=QAT\">77 mtpa<\/a> to over 100 mpta in the next five years.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Something Unexpected Just Happened In LNG Markets In the increasingly topsy-turvy world of liquefied natural gas (LNG) markets, the world\u2019s largest LNG importer could soon be exporting the super-cooled fuel to the world\u2019s second largest LNG exporter \u2013 a situation unimaginable, even laughable just a few years ago. On Monday, news broke that a Japanese [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[18994,452,18993,1714,1190,18992],"class_list":["post-31699","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-australian-financial-review","tag-japan","tag-jera","tag-liquified-natural-gas","tag-lng","tag-tim-daiss"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31699"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31699\/revisions"}],"predecessor-version":[{"id":31700,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31699\/revisions\/31700"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}