A strong recovery in expenditure on LNG facilities is underway worldwide, driven by a growing demand for natural gas. Douglas-Westwood's (Faversham, England) World LNG Market Forecast expects that global capex will total nearly $228 billion during the 2013 to 2017 period, an increase of 109 percent over the preceding five years. The spending surge includes capex on base-load onshore and offshore fixed LNG liquefaction, LNG carriers and LNG regasification via both onshore and offshore fixed import terminals. Activity over the next five years is underpinned by huge financial commitments to both liquefaction projects and gas import facilities. The liquefaction developments will drive expenditure, with Australasia and North America playing a fundamentalrole in bringing new supply into the international market. Spend will peak in 2015 and decline slightly in 2016 and 2017, due to the surge of Australian LNG export projects reaching completion.
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