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September 19, 2019updated 20 Sep 2019 8:36am

LNG trends: Liquefaction capacity leads twitter mentions in August 2019

Offshore Technology lists the top tweeted terms in LNG in August 2019, based on data from GlobalData’s Influencer Platform.

Offshore Technology lists the top tweeted terms by Liquified Natural Gas (LNG) influencers in August 2019. GlobalData’s Influencer Platform selected these top tweets based on Twitter traffic.

These top tweeted terms are the trending industry discussions happening on Twitter by key individuals (influencers) as tracked by the platform.

 

1. Liquefaction capacity – 283 mentions

Liquefaction is the process of converting natural gas into liquefied natural gas (LNG) for ease and safety of storage and transport.

Since liquefaction plants cost billions of dollars to set up, the liquefaction capacity of treatment plants is a key driver of the global LNG trade.

2. LNG shipping – 79 mentions

LNG carriers are vessels used for shipping LNG by sea. These LNG carriers provide more economical and eco-friendly means of shipping the gas, when compared to other systems.

3. Pricing – 75 mentions

The pricing of LNG depends on various factors. Key factors include the exporters’ domestic natural gas production, gas consumption and price, liquefaction cost, LNG demand, growth in natural gas reserves, and government policies.

4. Exports – 51 mentions

Natural gas, when compressed and liquefied, shrinks in volume by approximately 600 times. This makes it easier to ship. As a result LNG exports by sea have been carried out without major accidents or safety problems for many decades.

The Gulf LNG project in Mississippi, US, recently received approval from the Department of Energy’s Office of Fossil Energy to export domestically produced LNG.

5. USLNG – 40 mentions

The US had primarily been an LNG importer until Cheniere Energy became the first US company to export LNG in 2016. Now many more companies in the US are awaiting approval from the Energy Department for proposed LNG export projects.

Currently China is the largest foreign buyer of LNG exported from the US. This led the International Energy Agency (IEA) to forecast the US to become the world’s biggest LNG exporter and for China to be the biggest LNG importer by 2024.

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