Big business chasing down another dead end street; I think Hubbert's Peak for NG is about 10 years behind oil; just around 2025. For this kind of money, they could build plants for solar panels, windmills, mini-hydro, and install them on every house in the country, and probably have money left over. Even create some jobs that way.
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US Needs 10 New LNG Terminals By 2025 To Meet Demand -EIA
KUALA LUMPUR -(Dow Jones)- The U.S. needs 10 new liquefied natural gas terminal projects to come online by 2025 to meet its increasing domestic demand, an official from the statistical arm of the U.S. Department of Energy said Tuesday.
Based on current projections, "LNG imports in 2025 will reach 6.4 trillion cubic feet, but that is still only about 25% of total gas demand," Guy Caruso, administrator of the Energy Information Administration, said on the sidelines of an energy conference here.
Caruso said there are currently 55 LNG terminal projects being proposed, but only five - four onshore and one offshore - have received approval.
He said proposals for 22 more projects have been forwarded to the Federal Energy Regulatory Commission for approval, and the U.S. needs 10 such projects to be approved and built by 2025 to meet rising local demand.
In the first quarter of this year, the U.S. imported 157,253 million cubic feet (3.2 million metric tons) of LNG, up 3.9% from the same period last year. LNG imports last year reached 652,015 million cubic feet, representing 15% of total gas imports.
Natural gas deliveries reached 20,646 billion cubic feet in 2004. Deliveries in the first quarter of this year fell by 2.9% from the same period last year to 6,596 billion cubic feet, according to EIA data.
-By Calvin Lee, Dow Jones Newswires; +65-6415-4063; calvin.lee@dowjones.com
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