The global market for liquefied natural gas (LNG) will shift further to Asia by 2020, where high prices will attract new supply sources, while Europe will remain dependent on pipeline supplies and North America will become a marginal LNG exporter.
Alaska wants a $50 billion pipeline and export complex built to develop natural gas that’s stranded on its icy North Slope. The justification: Asia’s swelling appetite for the fuel.
Governor Sean Parnell gave Exxon Mobil Corp. (XOM), BP Plc (BP/) and ConocoPhillips to the end of this month to provide plans to pipe the gas south and compress it into a liquid, known as LNG, for export.
For more than a decade, the world’s biggest liquefied natural gas producers led by Royal Dutch Shell Plc (RDSA) plotted how to move their $170 billion industry onto barges at sea to tap remote fields. Now they’re finally doing it.
Oil giant Royal Dutch Shell is set to invest more than $300 million to build out a series of liquefied natural gas filling stations at America’s biggest chain of truck stops. According to James Burns, Shell’s manager of LNG transportation fuels, the oil and gas giant will pay the costs of setting up 200 LNG pumps at 100 locations in the Travel Centers of America chain.
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