The global LNG market within the United States is about to change forever. They have managed to have the first tanker that is able to carry liquefied natural gas. They have been negotiating with companies working out contracts and gains similar to the contracts with crude oil. The first tanker traveled on December from Louisiana. By 2020, the United States will be the third largest exporter of gas. The United States has been a major contributor when it comes to the development of LNG market. The United States helps to bring up the volume up throughout the market.
LNG is the most valuable commodity after oil. By the year 2020, gas from the Eagle Ford and other fields will transform the United States into the third-biggest exporter. Also the spot trading will certainly account for almost half of transactions by then.
Jamie Buckland , the Head of Investor Relations, at GasLog Ltd, London says, “We see the U.S. as a major contributor to the development of the LNG spot market as the volumes start to ramp up.” “There should be a lot more flexibility, and you could see some buyers of U.S. volumes selling product on to others.”
U.S. Natural gas has a significant impact on the connection between the Pacific and Atlantic market. That is why LNG decided to expand its investments with shale gas production within the United States. There are suppliers that are already signing contracts for two or three years instead of twenty years at a time.
By 2019, the LNG market will have expanded by about four percent or more. It will be very interesting when gas starts being exported. LNG trade will exceed 120 billion dollars by overtaking iron ore. LNG has worked hard at advancing the company and making economically sound investments to get financial gain. This is why LNG market is successful. They have changed how natural gas consumption will be in the future.