文档介绍：The Global Market for Liquefied Natural Gas
David Jacobs*
Liquefied natural gas (LNG) provides an economic means to transport natural gas over long
distances, bringing production from remote gas reserves to market. A large expansion in global
LNG trade is currently under way, and Australia is likely to emerge as the second largest supplier
globally ing years. This article describes the functioning of the global LNG market and
outlines Australia’s position within the market.
Introduction Graph 1
The global market for LNG is of growing importance World Energy Consumption by Fuel*
Per cent of total energy consumption, 2008
to the Australian economy. In recent years, %%n Other n Industry
significant investments in LNG production have n Residential n Power
n Transport
mitted, with projects under construction
30 30
currently totalling around A$120  billion. If these
projects proceed as planned, Australia’s LNG exports
are likely to increase more than three-fold over the 20 20
next five years (see Christie et al 2011).1 In addition
to mitted projects, a number of other
10 10
developments are being evaluated that could see
LNG exports approach coal and iron ore in terms of
0 0
their contribution to total export earnings over the Oil CoalNatural gas
coming *Oil includes crude oil and oil products; coal includes all coal types and
peat; power includes electricity and heat plants, blast furnaces and energy
industry use
Sources: International Energy Agency; RBA
Natural Gas
Natural gas supplies around one-fifth of the globe’s uses (including heating and cooking). In recent
energy needs, compared with one-third from oil decades, there has been strong growth in natural
and one-quarter from coal (Graph  1). Natural gas gas consumption in the Asia-Pacific region and the
has a wide variety of uses with the largest being Middle East, although North America remains the
power generation, followed by industrial uses (such