By ERIC YEP
Global capital expenditure in the liquefied natural gas sector will more than double to around $228 billion in the 2013-2017 period, compared to the previous five years, consulting firm Douglas Westwood said in a statement.
It said the increase in capital expenditure includes onshore and offshore projects to liquefy gas for export, import terminals to regasify LNG and LNG carriers for transporting the fuel, with Australasia and North America bringing most of the new supply in to the market.
LNG liquefaction projects will drive expenditure at an estimated $143 billion, while spending on import terminals is forecast at around $50 billion, and LNG carriers at around $35 billion, it said.
"Spend[ing] will peak in 2015 and decline slightly in 2016 and 2017. This is due to the surge of Australian LNG export projects reaching completion," Michelle Gomez, author of the firm's World LNG Market Forecast said.
The Middle East, one of the world's top LNG exporters, will see very little expenditure in the 2013-2017 period, while Australian LNG spending will fluctuate, Douglas Westwood said.
Dow Jones Newswires