Abstract
Natural gas is the world’s fastest growing fuel and being produced by many countries of the world in the commercial quantities. Increasing natural gas price and new development in the technologies, liquefied natural gas industry is economically attractive in the major gas exporting countries. Liquefied Natural Gas (LNG) is an important energy source and continued to contribute the growth of natural gas industry. The new advance LNG technology is used for natural gas transportation for long distances. LNG can be transported by the large insulated cryogenic tankers at affordable cost. This study presents an overview of LNG liquidation facilities from natural gas as feed gas to LNG storage and transport. The main objective of the study is to highlight the current data for reviewers on LNG world market, mainly on LNG production, supply, demand, price and new development of LNG plants. The technology is growing gradually with increasing number of LNG consuming countries in overall the world. In the near future, LNG price may be affected by the advanced shale gas production in the United States of America and China. Australia becomes the world second largest exporter of LNG market after Qatar. Australia will increase LNG supply by 15 Bcf/day from 2014 and accounting for 25% of world LNG production by 2030. Global LNG production forecast will be reached 540 Bcm by 2020 and LNG trade will be reached 425 Mtpa by 2025. New countries are interested to enter in the LNG world market as importers and exporters.
Highlights
Liquefied Natural Gas (LNG) fundamentals: The first LNG was imported in limited quantity by Japan in 1960
The LNG technology was developed in Japan after oil shocks of 1970 (Small, 2005)
The main objective of the study is to highlight the current data for reviewers on LNG world market, mainly on LNG production, supply, demand, price and new development of LNG plants
Summary
LNG fundamentals: The first LNG was imported in limited quantity by Japan in 1960. The LNG technology was developed in Japan after oil shocks of 1970 (Small, 2005). Norway, Egypt, Trinidad and Qatar imported the LNG from their new plant worldwide. A single train LNG plant may cost 1.5 billion USD and consume 6 to 8% of the inlet gas as fuel. Impurities such as Carbon dioxide (CO2), Hydrogen Sulfide (H2S), Water vapor and heavier hydrocarbon compounds in natural gas must be removed. The natural gas (feed gas) must go through a series of pretreatment steps. This can prevent the damage to liquefaction equipment and meet the specification of customer (Choi, 2010)
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