Industry outlook

S. Potdar, AspenTech, Bedford, Massachusetts Although LNG prices have hit a record low and capital costs of new production terminals continue to rise, a significant amount of pressure is on the industry to increase capacity by improving existing plant efficiencies and constructing more facilities. The demand for LNG as an environmentally friendly energy source continues to grow in many regions. While a short period of oversupply is expected, the reality is that it will not last for long, as most construction projects underway will reach completion and be in production before the end of the decade. As a result, the industry will likely struggle to meet the need for additional supply capacit