LNG: LESSONS FROM LONG AGO

摘要

What Santayana said about those who fail to learn from the past being doomed to repeat the same mistakes is certainly applicable to the current evaluation of projects for the importation of liquefied natural gas (LNG). In February of 2004, FERC listed about 40 proposed LNG projects in North America. All of these projects are designed to meet what is estimated to be a shortfall of available natural gas for the growing U. S. market, particularly gas used to generate electricity. The supplies are estimated to be cost-competitive with natural gas, which has nearly doubled in price within the past two years. The current wave of LNG applications and projects is eerily similar to the situation in the 1970s, when a flurry of LNG projects were proposed. The circumstances under which the majority of the projects in the 1970s failed can provide guidance to decision makers, project proponents, and potential customers in evaluating current proposed projects.