WorldOil

Data and technology integration improve velocity analysis for seismic imaging

Since 2011, the future global supply of LNG looks increasingly more robust, with new supplies in planning in North America, East Africa (in particular, Mozambique and Tanzania), from the Eastern Mediterranean (Cyprus and Israel), Russia (i.e. planned Vladivostok, Shtockman and Yamal projects), and on a smaller scale from South America (i.e. Colombia). These new supplies, as and when they appear in the market over the course of the next decade, will provide significant competition to some of the large LNG-producing nations (e.g., Australia and Qatar). Already, some of the operators of Australia’s numerous planned liquefaction projects with some of the most expensive projects on a unit cost-of-supply basis worldwide, and faced with further increases in project costs, are beginning to recognize that they need to become more cost-competitive, if they are to find long-term buyers and prosper. On the other hand, Asian LNG buyers are keen to see these potential sources of supply help to dilute the oil-indexed pricing mechanisms that are forcing Asian buyers to pay much higher prices for their gas imports than North America and Europe. Herewith is a country-by-country report of the LNG supply trends throughout the world.