LNG Industry - January 2020

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COMMENT
DAVID ROWLANDS
EDITOR
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A s we return to work groggy-eyed, plump and with
little to no idea of what day it is, January – for many
of us – is a time when we seek to improve ourselves
through New Year’s Resolutions.
Gone are the drinks, chocolates and heavy winter meals,
and in come the smoothies, exercise regimes and rigid
determination to carve out a healthier lifestyle.
Of course, the majority of us will fail in a blaze of glory.
Personally, I failed to stick to my promise of not ordering
a takeaway on the first Friday of the month in a blaze of
garlic mayonnaise, so I am in no way making any personal
judgements.
In fact, just setting a New Year’s Resolution in the first place
puts you ahead of other people. Indeed, according to YouGov,
only 22% of Brits even made New Year’s Resolutions for January
2019. In addition to this, according to data from just a few
years ago, only 27% of Brits who made a New Year’s Resolution
managed to stick to them anyway.1
It is not only improved fitness that is a common
New Year’s Resolution, however. This year, there is emphasis on
being more environmentally aware, and not just for January.
People across the globe are seeking to reduce waste and
carbon emissions in a plethora of different ways, ranging from
going vegan, to not buying single-use coffee cups, to cycling to
work, and even by attempting to cut down on the number of
flights taken each year.
And this trend is not only being seen amongst individuals,
but also amongst world governments. This, of course, is good
news for the LNG industry. As Bernadette Cullinane and
Nye Hill of Deloitte discuss in their article starting on page 12,
a number of Asian countries, for instance, are looking to LNG to
meet increased gas demand caused by growing economies and
growing populations. This requirement for LNG is bolstered by
the fact that many domestic natural gas wells in these regions
are starting to deplete.
For instance, discussing the Philippines, Cullinane and
Hill write: “Similar to Vietnam, there are domestic supply
concerns. According to Department of Energy (DOE) estimates,
the offshore Malampaya gas field has less than five years of
available resources. Malampaya is the main source of natural
gas for Luzon, the most populated island in the Philippines
with more than 20 million people. ”
Clearly, LNG is the answer here. Of course, this is not the
case for every emerging market, and Indonesia is abandoning
its plans to import LNG altogether after a spate of gas
discoveries. Nevertheless, the trend globally is towards LNG and
green technologies.
With IMO 2020 officially in effect, and a number of
significant project developments expected this year, the decade
is certainly off to a good start as far as the LNG industry is
concerned. Here’s to another decade of success for the industry!
We hope you enjoy this latest issue of LNG Industry
magazine. Feel free to pick up a copy at the European Gas
Conference and the American LNG Forum.
1. SMITH, M., ‘Only one in five making New Year’s resolutions for
2019’, YouGov, (31 December 2018),
lifestyle/articles-reports/2018/12/31/only-one-five-intend-make-
new-years-resolutions-20