About World LNG Fuels 2014
For the first time in a half century, energy suppliers in China, the United States, Canada, Northern Europe, Australia, Africa and parts of Latin America are contemplating displacing their imported crude oil with domestically produced natural gas.
In this fourth year, the World LNG Fuels Conference creates an environment conducive to business development, market awareness, and cultivation of new relationships. The event attracts key decision-makers, buyers and influencers representing across the LNG fuel spectrum.
CONSIDER THESE FACTS:
- Gas-bearing shale deposits have now been discovered in more than 47 countries, most of which are dependent on oil imports.
- Each is initiating efforts to switch transportation, especially heavy-duty trucks, ships and locomotives, to natural gas. These are best suited for LNG.
- More than a quarter of world energy production, nearly 90 million barrels of petroleum, is consumed every day by transportation.
- That’s 15 times the energy represented by world LNG trade.
- In the U.S., heavy duty trucks alone consume some 94 million gallons of diesel daily (110 million metric tons per year).
- That’s enough diesel to fill Houston’s Reliant Stadium 51 times.
- Commercial marine vessels consume another 22.1 million gallons per day. U.S. locomotives consume 11.4 million gallons and drilling rigs, 2.1 million gallons per day.
- If the U.S. were to convert these markets to LNG, it would represent a market about half of world LNG trade.
- The U.S. represents only 19% of the world petroleum market.
- If all heavy duty transportation – trucks, commercial vessels, locomotives and drilling rigs – were to convert to LNG, some 600 million tonnes would be needed globally every year.
- Carbon emissions would fall by almost 0.7 billion tonnes annually.
- Diesel smoke and diesel sulfur emissions, which contribute to acid rain, would disappear.