Cold, Hungry and in the Dark by Bill Powers Art Berman

Author:Bill Powers, Art Berman [Powers, Bill; Berman, Art]
Language: eng
Format: epub
ISBN: 9781550925289
Publisher: New Society Publishers (eBook)
Published: 2013-06-02T16:00:00+00:00

FIGURE 18.03. Japan Liquefied Natural Gas Import Price Chart.29

While the high South American prices can be partially explained by winter weather in the Southern Hemisphere, there is little doubt that a major upswing in demand is occurring in the region. According to the 2012 BP Statistical Review, Central and South American countries increased their imports of LNG from 325 bcf in 2010 to 385 bcf in 2011, an increase of nearly 23 percent.31 Though South America is not yet a large LNG importer by world standards, this may change should recent demand trends continue. For example, Argentina is set to import a record amount of LNG in 2012, despite a large increase in imports of Bolivian gas. The country, which has seen gas production decline 16 percent from its peak level in 2004, is set to pay an average of $10 per MMBtu for piped in Bolivian gas versus $16 per MMBtu for LNG.32 Unless Argentina can halt the decline in its natural gas production it, along with Brazil and Chile, will continue to increase LNG imports for the next several years.

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