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LNG sales at record high but the future is still uncertain
May 02: LNG sales witnessed a record year of sales in 2016
8But the future remains challenging.
8The current LNG glut would persist well into the next decade unless suppliers found ways to reduce costs to levels that made gas as affordable as rival fuels.
8The problem is that gas had historically competed against liquid fuels, but today faced competition from coal and renewables.
8Around 15 years ago, LNG could be produced for a delivered cost of around $500/tonne. That had soared to as much as $1,500 as costs spiraled out of control.
8Methane emissions will have to be curbed or gas will end up being dubbed as another dirty fuel.
8Again a higher carbon tax is needed to keep gas competitive.
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