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Thursday, February 9, 2012
Release–Will Flex LNG balance the markets for thirsty LNG buyers?
Fleming Europe's Global LNG Forum summoned more than 100 industry heads on 8th-10th February 2012 in Marseille where LNG leaders addressed the most up-to-the minute trends and techniques achievable in today’s economic and regulatory environment, as well as in the technological and transportation marketplace. The forum was officially endorsed by Elengy (GDF SUEZ Group), which invited all registered delegates to visit Elengy’s Operated Terminal Fos Cavaou.
The conference was unveiled in line with three main motives: 'Drivers and constraints for LNG Global market developments' (Day 1), 'LNG business challenges and opportunities' (Day 2) and guided tour to Fos-Cavaou LNG Terminal (Day 3). The presentations were inwrought with case studies from Port Authorities, up to four hours of panel and round table discussions and more than 13 hours of power-networking.
Day 1 (Wednesday, 8th February) was officially opened by Thierry Touvre, CEO of Elengy, followed by remarks from the Chair – Leigh A. Bolton, MD of Holmwood Consulting Ltd. Networking among participants was supported from the beginning with an exciting quick business card exchange. The first day developed on the theme 'Drivers and constraints for LNG' s global market development'.
The keynote presentation 'Latest trends within the LNG markets' was delivered by Guy Broggi who is Senior Advisor to the LNG Director at Total. He raised a question to the audience if Europe should be worried about it's supply. 'There exist several reasons why buyers should be worried such as political problems in exporting countries; Fukushima's aftermath causing nuclear decline that requires an extra 10-20% of Japan LNG imports, then strong appetite noticed in India, China and UK, as well as 'thirsty' LNG buyers who appear almost everywhere – Malaysia, Indonesia, Thailand and on the other side Argentina, Chile and Caribbean islands,' explains Guy. The mid-term (2012-2015) answer to this situation could be according to Guy, the existence of 'Flex LNG' to balance the markets with the focus on price level and sellers' policy. In the long-term perspective, counting till the year 2016, Asian buyers should be supplied by Australia, PNG or Russia within already existing FID-ed projects and a couple of new projects as well. Besides this, modern LNG plants will be launched by suppliers in the Northern Atlantic and Israel/Cyprus for Europe, in the Southern Atlantic for Europe and South America and in the Middle East for Europe and Asia.
The block theme of day 2 titled 'LNG business challenges and opportunities' began with the keynote speech 'Small-Scale LNG' by Pierre Cotin who is Elengy's Vice President Strategy, Development & Sales. The case study 'Port Authority of Marseille' was showcased by Dirk Becquart from Port of Marseille. The review of the day was summarised in a panel discussion led by Ben Farey from Bloomberg.
On day 3 attending participants had the chance to enjoy a guided tour to Elengy’s Operated Terminal Fos Cavaou that offered access to all LNG importers for the French and broader European markets. The terminal of Fos Cavaou is operated by Elengy and is owned by the Société du Terminal Méthanier de Fos Cavaou (STMFC), in partnership with Total.
The first day of the 2nd Annual Global LNG Forum proved its position as a flagship event in the industry when over 100 delegates networked with experts from such companies as Botas, Hoegh LNG, JP Morgan, Kuwait National Petroleum Company, Northgas, SENER, South Hook Gas, Statoil, Tokyo Gas Co. Ltd or Total.
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