Liquefied Natural Gas or LNG is definitely natural gas that has been super cooled in the process known as liquefaction to minus 161 degrees centigrade. Cooling natural gas in this manner reduces its volume by 600x and turns it from a gas to a liquid. This kind of liquid can then be transported all around the world using specialist ocean going super tankers Matthew Stafford Jersey , where by the gas can then be turned back into a gaseous form and also pumped into the local grid system to be used as conventional gas.


Previous to the invention of liquefaction and even the concept of LNG, gas markets were very localised. Net importers of gas were at the mercy of their next door neighbours who could change the price they charged intended for spot gas or short term contracts at any sort of time. Even with contracts that were historically linked to oil, if an importing country suddenly found out that it needed more gas due to a demand spike then it was at the mercy of the exporter, who could charge virtually any price intended for supply or would not flow the extra required gas.
LNG was conceptualised in the 1960’s as well as the first liquid gas cargo was moved from Algeria to the UNited Kingdom and the LNG industry was born.
Many countries had never heard of LNG let along what LNG is definitely and even how to trade it, but they were soon quick to pick up on the potential value that LNG trade can create.


The shipping market is certainly a market within its own right and even underpins LNG global trade. Specialist ships are made to order by specialist ship yards such as Samsung Heavy Industries and even these are then either sublet or sold on to market players (importers along with exporters). The charter rate that that ship can be sub-let meant for varies with supply along with demand. To give you a rough estimate of how much a ship owner can charge per day Ziggy Ansah Jersey , the current Atlantic Day rate is $90,000. This specific figure is actually just to charter the ship plus does not include the cost of fuel, ports or transit through canals such as The Suez.


Below are some interesting Facts about LNG


There are currently 360 LNG tankers of varying ages, types and even sizes in existence.
All LNG hulls are specifically designed to insulate their minus 161 degree cargoes.
LNG is definitely stored as well as transported at atmospheric pressure as a boiling liquid inside these tankers.
Two main designs : Moss along with Membrane – both have their benefits and also their drawbacks
Most popular cargo size: 135,000 – 150 Austin Bryant Jersey ,000m3 of LNG (29-34 million therms of gas),
Ships are getting larger – Qflex 217,000m3 or Qmax 266,000m3 (owned by the Qatari’s)
Typical cost per ship: $300 million (2010) and a cargo is definitely typically worth around $50 million.


Hi there and thanks for reading this LNG article. For a more detailed answer to the question, what is LNG Will Harris Jersey , see the What Is LNG web page.

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