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From: Dennis Roth	2/18/2007 4:58:35 PM
	of 206087

LNG shortage to increase: Voelte theaustralian.news.com.au GLOBAL demand for LNG could outstrip supply by up to 20 million tonnes a year between 2008 and 2015, Woodside chief executive Don Voelte said yesterday. He forecast that LNG growth worldwide would more than double from 145 million tonnes in 2005 to 370 million tonnes in 2015. Unprecedented tightness in the world market was boosting project costs and providing delivery challenges. Mr Voelte, speaking at the Cambridge Energy Research Associates conference in Houston, said LNG demand was growing in traditional markets, and new customers were emerging in North America, Europe and Asia. He rejected current industry feeling that the traditional LNG marketing arrangements of long-term contracts would be superseded by flexible contracts. "Long-term partnerships for large LNG volumes still dominate our industry and may remain dominant in hard times," he said. "Long-term contracts help manage volatility of demand and underpin the massive upstream and downstream investments that suppliers and customers must make to meet rising natural gas demand."

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