LNG for peak delivery possible in US in near future

Jan 28, 1997 01:00 AM

Demand for LNG in the United States may rise significantly in 5 to 10 years in reaction to sharp seasonal spikes in gas prices, the head of a US gas company said recently. David Dresner, President and CEO of The Eastern Group, told there was renewed interest in the prospects for LNG due to a dramatic fall in plant costs and storage advantages over gas. The Eastern Group is a US-based subsidiary of Statoil involved in the production, supply and trading of gas, development and operation of gas-fired power plants and wholesale trading of electricity. "The cost of LNG facilities has declined dramatically over the last decade making it more feasible to move into this market," Dresner said. "LNG could come in and take advantage of the strength of gas prices in the United States on a seasonal basis. It would be effective in dealing with periods of peak demand during, say, very cold winters." Several plants on the US are currently mothballed but companies had begun to look into the feasibility of takingLNG shipments into them, he said. "We see the possibility of LNG shipments from South America or maybe even northern Norway. In the next five to 10 years LNG could truly become a world market," Dresner said.

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