Escalating costs to build liquefied natural gas plants on land in Australia, where energy workers earn the highest salaries in the world, are driving developers out to sea in search of billions of dollars in savings.
China, the world’s biggest energy user, will take a different course from the U.S. in unconventional gas development because of “unique” geological, technical and commercial reasons, consultant Wood Mackenzie said.
Chinese consumers may buy natural gas at more than five times current U.S. futures prices as the government eases control over domestic costs, opening the world’s biggest energy market to more overseas sellers.
China, the world’s biggest energy consumer, may sign a deal to import Russian natural gas ahead of President Hu Jintao ’s visit to Russia later this month, Assistant Foreign Minister Cheng Guoping said.
China, the world’s biggest energy user, consumed 22 percent more natural gas in the first half compared with a year earlier as the country boosted production and use of the cleaner-burning fuel to cut emissions.