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Lithuania defines new dimensions

Lithuania’s high rate of economic development may rise even further in the future. The 17th ranked nation in the world in the “Ease of doing business Index” is now on its way discovering new dimensions.

Lithuania is looking forward to a new tender for shale gas exploration and production. The site for the same is located in the Silute-Tauregefield, situated in the Western part of Lithuania. Valentinas Mazuronis, environment minister addressed a news paper about the same, quoting “Issues related with taxes on oil and shale resources, if approved by the government, will also need the approval of the Seimas. However, we have actually prepared all other legislative acts, the terms and conditions of the tender. Hence we think it might be possible to issue the tender in late May, in June, and we have to move towards that.” He further added “There are several options. Under one of the options we leave the taxation of traditional oil unchanged and keep the current 10 percent average, or raise it slightly… to the average of 12-13%… The average taxation of shale resources, as proposed, would be 15 percent,”

With government now emphasising on #EnergySecurity Lithuania may soon witness a brighter tomorrow.

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America’s Energy Independence

The much awaited American dream of the “Energy independence” may turn into reality soon. According to THE FUEL FREEDOM FOUNDATION (FFF), US may certainly become energy secure nation with mass adoption of natural gas and biomass. The study conducted by Eval Aronoff suggests that natural gas and biomass should be the choice of fuel especially for transportation sector to end the dependence on foreign oil.

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The study further explores the chances of the world’s superpower of becoming an energy independent nation, in terms of quadrillion British Thermal Units (QBTU) and/or balance of payments (BOP) in dollars. The study concluded that with present energy consumption trends, energy independence may not be possible by 2020 or even 2035.

Author of the study and co founder of FFF, quoted “In order to become energy independent, we need to reduce our oil consumption by half. We can do that by replacing transportation fuels made from oil with those using natural gas as a feedstock, like methanol and ethanol.” He further added “The abundance of low cost feedstocks for competitive fuels will drive down the price of fuel, and will deflate the power of the oil price setters, allowing the US to be truly energy independent.”

With efficient and smart usage of fuel across the world we may present ourselves a better, cleaner and greener planet to live in.

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An overview of the LNG summit 2013

During the recent past natural gas has presented itself as a greener fuel of choice, more evidently than ever. With rising environmental issues, natural gas seems to be the most practical alternative. At the CWC World LNG summit 2013 held this in year in Paris, various opportunities and key challenges were discussed regarding the present state and the future possibilities related to the industry. Below is the summarized insight of the summit.

The present scenario:
Demand for liquefied natural gas (LNG) remains high in Asia with almost 75% of the total sales in the continent. The supply projects have also expanded particularly in the North America, contributing 330 Mtpa taking the total volume produced upto 600 Mtpa.
The challenge however before the industry is the regional price differentiation which because of the pressure in the international market is wider than that of the oil prices.

Future projection:
The industry is expected to grow around 5-6% pa, which amounts up to 400-430 Mtpa by 2025.

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ASIA

Asia would remain the pivotal market for natural gas and is expected to consume 75% of the total production. With demand from mature markets such as Japan, South Korea and Taiwan; a new segment of market consisting of India, China and Middle East would emerge to be an important market segment in the global scenario.

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EUROPE

Decreased demand and price competition in Europe owes to a lower demand for LNG in Europe thereby, raising the import dependency to 80% by 2035. Europe will play a key role as the global balancing market for LNG in the future

THE AMERICAS

Collectively the LNG demand of the Americas is set to rise by 2020 whereby they will require creative LNG sourcing to meet demand compete with other markets.

USA

Work is in progress to make USA a material exporter of LNG by 2025 thereby; increasing opportunities for new LNG supply capacities.

RUSSIA

In an attempt to liberalize LNG exports, Russia is investing in various projects and shall foresee an increased LNG sales in Asia by 2020.

MOZAMBIQUE

The picture for Mozambique LNG looks promising and it is becoming a key player in the LNG industry

3According to the figure above LNG is evidently growing fast in the gas segment.

Keep LNG Going

LNG development for the future needs more commercial innovation in terms of better pricing mechanism exploring more avenues of partnership in the value chain. A key issue identified was the struggle faced by smaller LNG projects to guarantee completion and assure their lenders, meanwhile scope for innovation while developing LNG projects or using LNG equipment is set to rise.

LNG to flourish with diversity:
Diverse customers and portfolios along with diverse pricing mechanism will boost LNG in the times to come and initiatives by countries to become global players in the LNG market will support the effort and resolve the impasses between buyers and sellers.

Below is the detailed summary report on the CWC WLNG summit 2013

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CWC 14th World LNG Summit, November 18th-21st, 2013

CWC group of companies is organising the 14th Annual World LNG Summit and award gala night from 18th to 21st November 2013 in Paris. The objective remains to become a strategic partner to the government delegations and the energy industry in the emerging markets.

The CWC group organizes the World LNG summit each year, with the one coming up in November being the 14th summit. The summit is among the many events and seminars organized by CWC. This particular LNG summit is a platform where LNG professionals from across the world assemble. The main area of focus in the summit is the display and discusses the key developments in the industry along with connecting the LNG buyers to the LNG sellers.

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The past LNG summit that was held in Barcelona saw approximately a gathering of 500 delegates worldwide. The discussions revolve around the LNG markets and various technical innovations, challenges and opportunities that lie ahead of the market. The key theme of discussion for the 2012 summit was the foreseen growth in supply and demand of LNG by 2025. Likewise in 2013 the summit will be “key drivers for Global LNG business”.

Key highlights

Some of the key highlights to be discussed in the summit will be:

  • Rigorous pricing challenge for the new LNG supply. Demand and supply predictions for future.
  • Asian import of LNG in the current global scenario and where would it reach by 2020
  • Japan’s long term energy plans and LNG demand in the next ten year.
  • Growth of LNG industry in India and China
  • Prospects for Canadian and U.S. LNG projects.
  • LNG as a marine fuel by 2020 : Potential and possibility

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GAIL (India) Limited is a proud sponsor of the CWC WLNG summit 2013. The summit helps GAIL to get closer towards its mission “To accelerate and optimize the effective and economic use of Natural Gas and its fractions for the benefit of the national economy.”

Gail has been working hard to achieve every bit of its commitment towards a better tomorrow along with being a natural gas company in India and has now shifted its focus to a global prospect as well.

GAIL amongst others would be hosting the 9th Annual LNG Award Gala Dinner on 19th of November 2013. On behalf of GAIL (India) Limited, Mr B.C. Tripathi, would be addressing the audience during the summit.