Business

Global LNG market expected to tighten in 2014

BG Group expects the global LNG market to tighten this year as market demand continues to outpace supply.

In its Global LNG Market Overview 2013-14 report, the company expected global LNG demand to grow at an annual rate of 5% to 2025, twice as fast as for gas overall.

New LNG trains in Australasia with combined capacity of 67 million tonnes per annum, including BG Group's QCLNG project on Gladstone's Curtis Island, represent the start of the industry's next major wave of production, it said.

But the outlook for 2014 was for only a modest increase in global supply, and overall performance would depend on unplanned outages and declines in output from existing plants.

BG Group vice president of global LNG Andrew Walker said limited supply growth in 2013, the prospect that overall production would remain stalled in 2014 and strong demand growth in Asia suggested the global LNG market would continue to tighten.

"Reflecting the tight underlying market, we expect LNG spot prices, assuming normal weather, to remain robust through 2014," Dr Walker said.

"In fact, we believe the global LNG market will be tighter for longer than many assume, until the end of the decade at least."

Dr Walker said that, in addition to the weather and the potential for European LNG imports to hit bottom, the industry will keep a close watch in 2014 on the rate of gas and LNG demand growth in China, the operational performance of LNG suppliers and the return of nuclear units in Japan.

You can read the full report here.

Topics:  bg group curtis island gas gladstone business qclng



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

High chance of rain this weekend

Brothers Charity Cricket event. Photo Christopher Chan/The Observer

Rain could be good for fishing

BREAKING: Fire crews rush to Glen Eden fire

Fire crews are working to control a blaze at Glen Eden.

Fire crews work to control a grass fire at Glen Eden.

OPENING SOON: Burgers and beers at Gladstone's latest restaurant

GETTING THE URGE: Gladstone store and operational managers Chase Williams and Justin Charell gearing up ahead of opening.

Gourmet burger restaurant to open at Stocklands

Local Partners

Amy Schumer thanks Barbie trolls for hateful comments

Amy Schumer is in the lead role for the new Barbie movie

Shannen Doherty's husband is suing for destroyed sex life

Shannen Doherty's husband is suing her former manager

Azealia Banks' battery case against Russell Crowe dropped

Russell Crowe will not be charged with battery

Mel Gibson named Best Director at AACTA Awards

Mel Gibson poses in the media room after winning the AACTA Award for Best Direction for Hacksaw Ridge.

HIS wartime drama Hacksaw Ridge sweeps 6th annual awards in Sydney.

Mark Hamill unaware his co-stars were romantically involved

Hamill too "self-involved" at the time to notice, he said

ABC's Fresh Blood graduates are a Skit Box full of laughs

Sarah Bishop, Greta Lee Jackson and Adele Vuko in a scene from the TV series Wham Bam Thank You Ma'am.

ALL-female comedy trio hitting the mark with new sketch show.

Ipswich City Properties asset portfolio retains its value

Ipswich City Council Administration Building, South Street, Ipswich. Photo: Claudia Baxter / The Queensland Times

New website launched by Ipswich City Council

High profile premier invests in Gladstone industrial facility

Former Queensland premier Campbell Newman heads a group that bought the UGL warehouses in Paget for $10 million.

FORMER PREMIER heads group that's backing Gladstone to bounce back.

INSIDE STORY: The highlights of your $150 million CBD

GRAND PLAN: The highlights of the Ipswich CBD redevelopment and where they will be located.

Work on city heart's radical transformation to begin next year

VOTE IN OUR POLL: Sand mine opponents face serious dilemma

Public meeting for the proposed sand mine at Maroochydore last week.

Coast MP calls on Minister to stop KRA proposal with stroke of a pen

Developer's grand new multi-million dollar estate

NEW ESTATE: This is the only plan revealed by the property developer's new Billabongs Estate in Agnes Water.

DEVELOPER given the go ahead for a massive estate with 149 homes.

Ready to SELL your property?

Post Your Ad Here!