Report: Global LNG Market to Double by 2010

The global market for liquefied natural gas is expected to grow rapidly until the end of the decade, doubling in size over five years to 2010, according to a report published by PriceWaterhouseCoopers, as reported in Forbes. That will mean LNG will be contributing around 40 pct of the anticipated growth in global gas supply between 2005 and 2010, it said. Qatar, Nigeria and Australia will lead the growth, said Michael Hurley, head of the Global LNG team at PwC. But the report also highlighted the risks facing companies involved in the LNG business such as BG Group PLC , stressing that previous LNG activity has been the subject of 'enormous ups and downs', with some infrastructure built in the 1970s remaining unused until the 1990s. The report added technology will be key in determining the future shape of the market and a series of developments may transform the role of LNG still further, which will aid growth. Source: Forbes