Asian LNG market key for PNG

THE Asian market will play a key role in the demand for Papua New Guinea’s liquefied natural gas with demand sitting at 251 million tonnes by 2020, a buyer says.
JERA Co Inc is the biggest liquefied natural gas buyer in the world. Hiroki Sato, chief fuel transactions officer and senior executive vice-president told the Petroleum and Energy Summit in Port Moresby yesterday that the current global demand for LNG was 292 million tonnes. He said Asia’s demand would increase by 109 million tonnes in 2030, totalling 360 million tonnes.
Sato said the world demand by 2020 should be around 363 million tonnes, and 504 million tonnes by 2030.
JERA Co Inc based in Japan said liquefied natural gas from Papua New Guinea accounted for around five per cent of JERA’s total imports since 2014.
“I am convinced that the operator ExxonMobil is one of the excellent companies in our industry,” he said.