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International Gas Trade

  • ID: 679932
  • May 2015
  • Region: Global
  • 16 Pages
  • Energy Research Associates

In testimony before the U.S. Congress, former Federal Reserve Chairman Alan Greenspan warned that the tightening supply of natural gas to the industrialized and developing economies is likely to have profound effects on energy markets and more importantly, economic growth. In a dramatic departure from his traditional focus on monetary and fiscal issues, Greenspan claimed that the only long-term solution to the impending natural gas crisis would be a worldwide expansion of LNG activity. The U.S., Western European and Pacific Rim nations would have to develop LNG projects rapidly, if a chronic supply shortage is to be averted.

Since the inauguration of International Gas Trade 20 years ago, the economic, political, environmental and financial forces shaping the natural gas industry have changed dramatically. In the aggregate, trade in pipeline gas, LNG and LPG has outstripped total energy demand growth rates as natural gas continues to gain share of worldwide energy markets.

International trade in pipeline gas is expected to grow as the conversion from oil and nuclear energy to natural gas gains momentum. The F.S.U., Norway and Iran are competing with Algeria for the growing READ MORE >

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