Capital spending in LNG to leap by 59%

Capital expenditure in the global LNG market is due to grow by 59%to hit $169 billion over the next five years.

Liquefaction projects, particularly in Australia, are expected tomake up 80% of total capex between 2012 and 2016 as they are built up to accommodatebooming Asian demand, according to Douglas Westwood’s latest LNG Market report.

“Overall, liquefaction terminals are set to dominate projectexpenditure, with a number of new players emerging in the export market,including Angola, Canada and Papua New Guinea.