World LNG market is undergoing rapid changes as it witnesses the newly entry of buyers from Asia. In China, a couple of LNG terminals are under construction by PetroChina and the capacity of domestic LNG production is expected to double this year. While the revised Natural Gas 12 th five-year plan is waiting for final authorities’ approval, 5th Asia LNG Forum 2012will be held on July 18-20, Xi’an, Shaanxi Province which is to review and analyze the market potential with LNG professionals worldwide.
Asia LNG market has been quite active in the last couple of years. Qatar has signed long-term strategic supply agreement with South Korea, China and Pakistan; while Korea Gas Corporation closed a 20-year purchasing contract with US LNG provider Cheniere. Australia, as the 4th largest exporting country, has eight LNG projects under construction, which will satisfy 10% of Chinese demand upon completion. And Singapore is also building its first LNG terminal.
In China PetroChina’s LNG terminals in Rudong and Xingang both went into operation in 2011 and its other terminals located in Ningbo, Tangshan and Qingdao will be in use in the near future. It is expected that a total number of 10 LNG terminals will be constructed along southeast coast cities by 2015, with an estimated storage capacity of 45 million tons per year.
Besides, about 30 domestic LNG plants will complete their construction or expansion this year. With their designed capacity of over 2000 million cubic meters per day, the total production capacity in the country will double in the year 2010.
The theme of 5th Asia LNG Forum 2012 is “Clean Energy, Clean Times”. The three day conference will focus on the market trend of LNG in Asia, the supply and demand in China, as well as what action China will take in answer to “Clean energy application” during the 12 th five-year plan. Hot topics like design standard of LNG liquefaction plant, LNG vehicle, shipping, development and application of cold energy have also been included in the agenda. Industrial professionals will have the chance to discuss market dynamics and share their commercial strategies.
The conference has gained warm support from China Gas Association, Malaysia Gas Association, and Vietnam Gas Association. Companies including TOTAL, GDF Suez, India Oil Corporation, Louis Dreyfus Highbridge Energy LLC, GE Oil & Gas, Skaugen, PetroChina, CNOON, SK E&S and many others have confirmed their attendance. It is estimated that about 150 officers at company’s high level management will attend the event.
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LNG World News Staff, May 24, 2012