Thursday, 6 January 2011

LNG mixed blessing for U.K.

Liquefied natural gas may help Great Britain deal with energy security but
it exposes the market to global pressures, energy analysts said.

The International Energy Agency predicted a growth in the natural gas market
with energy companies like Royal Dutch Shell expected to eventually produce
more gas than oil.

London estimates that, as reserves in the North Sea start to run dry, the
United Kingdom will rely on imports to meet 70 percent of its gas demand by
2020. As much as 60 percent of that is expected to come from LNG.

Simon Fairman, who manages a LNG terminal on the Isle of Grain, said that
LNG is a mixed blessing for the region, noting shippers tend to go where the
prices are most attractive, London's Guardian newspaper reports.

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