Comparative Study of Process Integration and Retrofit Design of a Liquefied Natural Gas (LNG) Regasification Process Based on Exergy Analyses: A Case Study of an LNG Regasification Process in South Korea

Currently, the Asia-Pacific market is a priority goal for almost all major producers of liquefied natural gas(LNG). This is due to the relatively high price that local consumers are willing to pay, as well as the accelerated growth rate of natural gas consumption. At the same time, China is the main driver of growth in demand for LNGin the world, has concluded a trade agreement with the United States, which involves the purchase of energy resources worth more than $ 52 billion over two years. Given the decline in LNG prices, as well as increased competition, the issue of the prospects for sales of Russian Arctic gas on the market of the Asia-Pacific region becomes particularly relevant.The study provides a generalized assessment of the needs of the main importers of LNG ––China, South Korea and Japan, with a planning horizon of 4–5 years. The relatively high growth rates of the economy, partial rejection of nuclear energy, struggle to improve the environmental situation, as well as the desire to diversify supply routes explain the needs of the countries in the Asia-Pacific region for additional volumes of LNGin the near future. The analysis showed that both Japan and South Korea are interested in increasing the volume of imports of Russian arctic LNG, whose key advantages over most competitors are the price and relative proximity of sales markets. At the same time, the reduction in the number of operating gas drilling rigs in the United States indicates that it will not be possible to maintain the growth rate of LNG production at the level of 2018 and 2019.

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Water content variations in the tundra land cover: evidence from multispectral satellite imagery (a case study of a liquefied natural gas plant construction site, Yamal Peninsula)

Sovremennye problemy distantsionnogo zondirovaniya Zemli iz kosmosa ◽

10.21046/2070-7401-2018-15-5-110-119 ◽

2018 ◽

Vol 15 (5) ◽

pp. 110-119 ◽

Cited By ~ 1

Author(s):

S.G. Kornienko ◽

Keyword(s):

Natural Gas ◽

Land Cover ◽

Water Content ◽

Satellite Imagery ◽

Liquefied Natural Gas ◽

Yamal Peninsula ◽

Construction Site ◽

Plant Construction ◽

Multispectral Satellite Imagery

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Top three LNG buyers to search for alternative LNG pricing structure after paying a total cost premium of $56 billion for oil-indexed LNG contracts in 2019 and 2020 – how will this affect Australia as the number one supplier to this market?

The APPEA Journal ◽

10.1071/aj20164 ◽

2021 ◽

Vol 61 (2) ◽

pp. 412

Author(s):

Sindre Knutsson

Keyword(s):

Natural Gas ◽

South Korea ◽

Spot Market ◽

Liquefied Natural Gas ◽

The Other ◽

Future Market ◽

Total Cost ◽

The Future

Increasing spreads between spot liquefied natural gas (LNG) and oil-indexed contracts have resulted in the world’s top three LNG buyers paying a cost premium of $33 billion in 2019 and 23 billion in 2020. The top three buyers are Japan, China and South Korea, which had a combined 151Mt of long-term LNG contracts indexed to oil in 2020. This cost premium shows what top Asian buyers are currently paying for the security of LNG supply through long-term oil-indexed contracts. However, it also shows the potential reward Asian buyers have if they manage to develop a liquid LNG pricing hub in Asia to which they can index their contracts. Japanese buyers’ efforts of increasing flexibility in contracts, both through take-or-pay agreements and destination flexibility and aims of growing the spot market, will increasingly support the liquidity of the LNG market. However, there will be resistance from the other side of the table, for where someone is paying a premium, or making a loss, someone is making money. 2020 was another year of plenty for LNG producers selling oil-indexed volumes to Asian markets. Australia is the largest seller of LNG to Japan, China and South Korea with over 60Mt of long-term LNG contracts indexed to oil in 2020. Australia has benefited from having their contracts indexed to oil, but what’s next? In this paper, Rystad Energy will discuss the future market for Australian LNG exports including development in LNG demand, contract trends and price spreads.

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