Preface and Introduction - Energy for the 21st Century: Opportunities and Challenges for Liquefied Natural Gas (LNG)

Abstract

Liquefied natural gas (LNG) – natural gas that has been cooled until it forms a transportable liquid – is the fastest growing segment of the energy market and its role as the 'glue' linking global gas markets is set to intensify as policymakers around the world are increasingly looking to natural gas and LNG to meet the twin challenges of energy security and climate change.

This book provides critical insights into the opportunities and challenges LNG faces as the fuel of choice for the 21st century. The book discusses all aspects of the dynamic LNG business, including the LNG value chain, the evolution from regional trade to a more globalized LNG market, LNG pricing, contracts and trade, and emerging issues such as the impact of shale gas on global gas markets, the prospects for U.S. and Canadian LNG exports, the role of floating LNG (FLNG) and the potential role of the Gas Exporting Countries Forum (GECF).

Professor Sakmar contextualizes the discussion about the importance of LNG with an analysis of why the 21st century will be the ‘golden age’ of natural gas with LNG as the ‘glue’ linking global gas markets.

Keywords: Liquefied natural gas, LNG, global gas markets, Golden Age of Gas, LNG value chain, LNG supply, LNG demand, globalization of LNG, LNG contracts, safety of LNG, environmental sustainability of LNG, shale gas, U.S. LNG exports