OIL MAJORS FACE UNEVEN DEVELOPMENT OF VAST MIDDLE EAST LNG RESERVES
June 1st, 2007
BY PAUL COCHRANE, in Beirut
WITH demand for liquefied natural gas (LNG) surging across the globe, the Persian Gulf is at the epicentre of LNG developments due to its vast gas resources. But the rapid expansion of the sector is not without complications. Rising commodity prices have impacted on production costs, certain fields have not yielded the volumes expected, and the ongoing US sanctions on Iran have effectively thwarted the exploitation of the country's huge gas reserves.
In many ways, it is a case of too much development too fast, particularly in the ...
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