U.S. reduces forecast for LNG importing by 5.1%

The U.S. Energy Department last week reduced its forecast for 2010 U.S. liquefied natural gas imports by 5.1 percent.
Imports may rise 35 percent in 2010 to approximately 1.67 billion cubic feet per day, the department’s Energy Information Administration forecast in its monthly Short-Term Energy Outlook. That’s down from April’s prediction of 1.76 billion.
“Higher prices in other LNG-consuming countries in Europe and Asia continue to attract cargoes away from U.S. ports,” the department said in the report. “However, EIA continues to expect that new LNG supply trains coming on-stream in Qatar, Yemen and Peru will more than satisfy global demand.”
The department estimated 2011 imports may rise 3 percent to 1.72 billion cubic feet per day, down from its previous forecast of 1.81 billion.
LNG is gas that is cooled to a liquid for transport by ship to markets not connected by pipelines. The fuel is received at import terminals and converted back to a gaseous form so it can be piped to users. &#8226