Contract Challenges
Article from: OGEL 1 (2006), in Liquefied Natural Gas (LNG)
Introduction
As global gas demand rises, LNG will play an increasing role in world gas trade. Increased trade and volumes will require more tanker capacity and a shift from traditional long-term supply contracts. The LNG industry is the fastest growing sector in the oil and gas market - although, globally, LNG is trading at significantly lower levels than the more mature oil market. However, world LNG trade is set to grow at a rate of 6-8 % a year over the next 20 years. Only a small percentage of world gas supply is transported as LNG. Nevertheless, given rising gas demand, the ...