LNG market projections hold steady
Mar 1, 2002 12:00 PM
The liquefied natural gas (LNG) market is expected to grow by several percentages in the next few years, maintaining business for tank truck carriers in the United States, says Harvey Harmon, vice-president of El Paso Global LNG, Houston TX.
Harmon addressed a recent LNG conference in Houston sponsored by the Strategic Research Institute. He said that the US market for LNG has grown about 7% in the past few years, and the world market is expected to grow by at least 5% to 6%.
However, tank truck carriers aren't likely to greatly benefit from the increase because their niche is so small, Harmon told Modern Bulk Transporter.
On the other hand, the picture is brighter for LNG haulers in Mexico. Several new LNG terminals are on the drawing board for Mexico, which will enhance tank truck transportation there.
“The two projects that are the most likely are the Altamira terminal on the east coast of Mexico and the Baja California terminal on the west coast of Baja Mexico,” he said. “Both are currently scheduled to be completed in 2005.”
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