Global LNG sector poised for accelerated expansion

Dec 16, 2004 01:00 AM

The LNG industry is poised to enter a period of accelerated expansion driven by "steadily increasing" global gas demand, high market prices and falling units costs of production and delivery, Moody's Investors Service said in an Industry Outlook report.
Although the development of new industry models in response to the changing market is likely to result in greater variability in credit profiles, the rating agency said it believes the LNG chain will generally remain an investment-grade business risk.

Moody's added that while Asian demand will continue to dominate the industry this decade, it believes that in the longer term, the Atlantic basin, particularly the US, will witness the greatest growth.
"In terms of suppliers, we expect Qatar, which has ample low-cost gas reserves that viably allow it to supply each major market, to be the primary beneficiary of the LNG boom," Chetan Modi, a Moody's vice president and senior analyst, said.

FPL Group Resources and subsidiaries of El Paso said they have agreed to combine development efforts and resources to bring natural gas supplies to southern Florida. FPL Group Resources is a subsidiary of FPL Group, which is affiliated with Tractebel North America.
Upon completion of a series of new agreements, all three parties will have the ability to come together to create the most efficient project, the companies said.

Under terms of the new agreements, FPL Group Resources, affiliates of Tractebel North America and El Paso will be equity owners of both the Seafarer and Calypso pipeline projects, and ultimately plan to construct one of these pipelines from the Bahamas to Florida.
FPL Group Resources and affiliates of Tractebel North America will be equal owners of a LNG receiving terminal in the Bahamas and a marketing company based in Florida called Sailfish Natural Gas.

Source: Petroleumworld
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