I hear that, and I like lots of new LNG projects potentially coming online over the next decade. More LNG means more product and more pressure to develop new markets which will make LNG as a fuel and even more enticing proposition. Alone – I am still not sold on this number. The obstacles are still formidable and one project is not like the other. There are still some real dinosaurs out there but there is also some nimble folks. In the end, modularization and the return of sanity to EPC will go a long way. Maybe not as far as 200 billion – but why would that matter? If the European heavy transport market alone decided to adopt LNG as the fuel of choice because they want to clear our skies and still remain competitive beyond the homeopathic measures we have now, it might mop up the LNG 200 billion worth of projects provide with ease.
Declaring that the “boom is back” for liquefied natural gas (LNG), Wood Mackenzie predicts that capital spending on LNG plant and upstream infrastructure will total more than $200 billion from 2019 to 2025.