Italy will Receive its first U.S. LNG Cargo by the end of 2016

Italy: Italy to receive its first U.S. LNG cargo produced from shale gas reserves by December 2016. According to the vessel tracking website, Marine Traffic, Italy will receive around 156,007cbm of LNG form Sabine Pass cargo of U.S to Canada based FSRU Toscana located at Italian coast between Livorno and Pisa. The growing LNG exports by U.S is expected to make U.S. the third largest LNG supplier by 2020, thereby driving the LNG market globally. 

TechSci Research depicts that the increasing demand of LNG from Italy would propel the LNG market, globally. Moreover, growing focus on expansion of gas pipeline infrastructure, rising demand for natural gas from downstream sectors, declining LNG prices coupled with implementation of favorable government policies is boosting demand for LNG across the globe. Increasing focus on development of adequate support infrastructure in various developing as well as developed economies is expected to boost LNG demand in the coming years.

According to released report of TechSci Research “Global LNG Market Competition Forecast and Opportunities, 2011-2021”, global industrial valves market is projected to cross global LNG supply market is forecast to exhibit a CAGR of over 5% during 2016-2025, on account of rising demand for cleaner fuels; oversupply of LNG due to liquefaction capacity additions in Australia, US and Papua New Guinea; and declining prices of LNG over the last few years. Also, with increase in development activities by Shell to explore and produce gas is expected to boost the demand for LNG. In addition, increase in spot market purchase is expected to keep LNG prices under check in Asia-Pacific and Europe.