A review of currently available LNG facilities and means of transport used for supplying terminals in natural gas with a projection of LNG prices in the USA

Abstract

LNG terminals allow for constant availability of fuel gas in insular countries (Japan) and in countries which do not have the option of transporting gas via inland pipelines due to their geopolitical location (South Korea). In many cases, possessing an LNG (liquefied natural gas) terminal increases energy independence, which translates first and foremost into avoiding energy blackmail (Lithuania). This paper presents currently existing LNG terminals together with an overview of the most widely used technologies for gas liquefaction, storage and long-distance transporting by LNG carriers. A comparison of natural gas liquefaction plants and LNG terminals with respect to their location, age and capacity is also given. In the final part of the paper we analyse LNG carriers in relation to age, capacity and shipowner. On the basis of data collected in the last 12 years, such as: price of LNG exported from USA, prices of imported and exported natural gas, consumption of gas, we have established the price of imported LNG using linear regression and power functions. In order to determine the price of LNG we have constructed mathematical models by means of the STATISTICA program. Our aim was to find the most accurate model. Three basic ex post methods have been used to compare regression models: ME (mean error), RMSE (root mean squared error), MAPE (mean absolute percentage error).