Chobama preps for LNG

[Tree]

Sounds like Chobama has fallen for Phil's lies about looming Asian LNG demand. Maybe Chobama should consult with Bonk prior to investing in LNG so heavily. Thankfully, Bonk has been the Paul Revere sounding the warning that the LNG market is plain hyped.

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To meet goals set out in the Twelfth Five-Year plan, China should build up to 60 new LNG carriers worth $12 billion between now and 2020, according to SinoShip News.
Beside Hudong-Zhonghua, China will select a minimum of four shipyards to build these LNG carriers.
As SinoShip News says that the number of terminals in China will increase to 14 from the current 5 operating. There is an option for another 10 terminals after 2016, depending on demand.

[admin]

Yea, that is what happens when:
- your economy is growing rapidly
- unprecedented amounts of people move into middle class, which greatly increases their energy footprint
- gas is cleaner and/or cheaper than most other energy
- gas comes from a very low base (<5%) in the electricity production mix