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The LNG Terminal Building Bonanza has Begun

International marine construction companies are seeing a bonanza of new projects as countries around the world approve massive new terminals for liquefied natural gas (LNG) – for imports in most cases, and for exports from North America, Australia, and some Southeast Asian countries. Altogether, this frenzy of port building – at a price tag of around $10 billion apiece – could amount to hundreds of billions of dollars in investment over the next decade as seaborne trade in LNG climbs to meet rising demand, particularly in the energy-hungry countries of China, India, and other Asian nations.

Total deliveries of LNG were flat in 2013 compared to 2012, according to the BG Group, but this masks pent-up demand, as producers in the United States are ramping up export capacity and importing countries are rushing to build import terminals. BG Group forecasts that worldwide LNG demand is expected to increase at a rate of 5% annually through 2025, with much higher rates in the developing countries of Asia.

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