LNG, the way to go, Hamworthy pumps.

(Lasata)...Can you give us a clue what FT says?...Is Hamworthy mentioned?
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Lng: An alternative to Russia for Europe
Web posted at: 1/4/2006 3:0:47
Source ::: AFP



PARIS: Liquified natural gas, transported by sea, has emerged as an appealing option for European consumers looking to temper their dependence on natural gas supplies arriving by pipeline from Russia via Ukraine.

Europe’s vulnerability to disruptions in natural gas flows from Russia became apparent Monday when supplies were sharply reduced in the midst of a Russian-Ukrainian pricing row.

Russia accused Ukraine of siphoning off natural gas supplies transiting Ukrainan territory and destined for Europe after Moscow shut off flows destined for Ukraine Sunday.

Ukraine denied it had tapped into European supply flows and Russia on Tuesday restored natural gas levels to its European customers.

Nevertheless, Poland, which depends on Russia for 42 percent of its natural gas needs, on Tuesday announced both the opening of talks with Nordic and central Asian suppliers as well as plans to build a maritime terminal to receive liquified natural gas (LNG).

Russia provides Europe with 25 percent of its natural gas consumption. But the development in recent years of LNG facilities has allowed European gas companies to expand their sources beyond continental fields, experts said.

LNG is carried by ship rather than pipelines, thanks to a cooling procedure, and allows for an economically viable delivery network over long distances.

While gas carried by pipeline represents 70 percent of cross-border exchanges, LNG is expected to account for 50 percent of the flows in 2030, according to the International Energy Agency (IEA).

Egypt, Libya, Algeria, Iran and Qatar, which all have major reserves after world leader Russia, are becoming increasingly attractive to foreign investors.

The French utility Gaz de France, which relies on Russia for 24 percent of its imports, intends to boost supplies of LNG from 16.4 perecent of its total to 30 percent in 2007, notably through purchases of liquified natural gas from Egypt and Norway.

Europe has relied on long-term contracts signed with suppliers other than Russia as well as stocks held by gas companies in its efforts to limit its dependence on Russian gas.

Moscow will probably have to liberalize its gas market to enable its European clients to deal with a range of companies in addition to the state-controlled Gazprom, said Francis Perrin, an energy analyst and editor of the specialized publication Petrole et Gaz Arabes.