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What are liquid natural gas converters and how do they work? Natural gas is transported in liquid form called liquefied natural gas (LNG). In its liquid form it can be transported anywhere in the world. To be useful, it must be converted back into gas form. This is done with floating regasification tankers, which will be increasing in demand over the next decade, according to BloombergBusinessweek. The tankers can dock at a gas pipeline terminal and pump the gas back into local pipelines. One company, Teekay (TK) has such a tanker.
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FeedFloating LNG Converters: The Next Big Investment Play?
Continue reading Floating LNG Converters: The Next Big Investment Play?
Exxon Mobil plans liquefied natural gas terminal off New Jersey
Exxon Mobil (NYSE: XOM) said yesterday that "it wants to anchor a floating liquefied natural gas (LNG) terminal 20 miles off the coast of New Jersey." If regulators approve the terminal, it would cost more than $1 billion to build, but it would be able to supply about 1.2 billion cubic feet of natural gas per day, enough to meet the needs of more than 5 million residential consumers. This would ease the supply of natural gas to New Jersey and neighboring New York.Since the gas is cooled to liquid form, it can be shipped through tankers, rather than pipelines, thus allowing nations the use of more gas than is nearby. Exxon expects demand for gas in North America to rise above the ability of drillers to supply it. It also expects worldwide demand for LNG to more than triple to 500 million metric tons a year in 2030, 20% of which will be consumed in North America, meaning America would have to rely on imported gas. Hence the need for the terminal.
Continue reading Exxon Mobil plans liquefied natural gas terminal off New Jersey
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