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The LNG business is poised for a period of strong growth in capital
expenditure, with forecast investment for the 2005-2009 period totalling
some $67 billion according to energy analysts Douglas Westwood.
Announcing the release of “The World LNG & GTL Report”, John Westwood said
that “Annual expenditure on LNG facilities is forecast to increase
dramatically from $7.2 billion in 2004 to $17.5 billion in 2009.”
Steve Robertson, report author said “We forecast that some $31 billion will
be spent on constructing a total of 27 new liquefaction trains whilst nearly
$14.5 billion is expected to be spent on 37 new import terminals (including
eight offshore) and six expansion projects.”
He added: “By 2009 the LNG carrier fleet is expected to number over 300
vessels and the total cost of the newbuild vessels over the next five years
is expected to exceed $21 billion. Despite the unprecedented levels of
demand, intense competition between Asian LNG shipbuilders (particularly
those in Korea and Japan) is expected to keep prices for LNG carriers
steady. |
