None of the world’s biggest energy companies approved developments last year to increase production of liquefied natural gas, or LNG, according to an article in the International Herald Tribune. The main reason is the cost to build LNG plants has tripled in six years, according to Bechtel Group, the biggest U.S. contractor.
LNG
PetroChina to Buy Iranian LNG
PetroChina, the country’s largest oil company, has signed a 25-year agreement to buy three million tons of liquefied natural gas a year from Iran to supply terminals it plans to build on China‘s northern coast. Gas deliveries will start in 2011. The company is expanding gas production and sales as demand for cleaner-burning fuels increases … Read More
US Builds LNG Terminals for Imported Gas
A quiet revolution is taking place in Louisiana, courtesy of company you have probably never heard of: Cheniere Energy. With help from Exxon Mobil and others, Cheniere are building three new liquefied natural gas terminals that will double America’s capacity to import natural gas by 2011.