Coleman spots the opportunity

WOODSIDE Petroleum CEO Peter Coleman has told the World Gas Conference in Washington that development of the Port Arthur LNG project it shares with Sempra is difficult, but that LNG is going to win out over pipe gas as it avoids path dependency or geopolitical tensions.

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Peter Coleman spots the LNG opportunities

He is also bullish on the spot market and its growing and unavoidable importance for LNG, signalling an interesting move given so much of Australia's export of the commodity has been based on long term contracts with foundational North Asian economies. 
 
 "An import terminal that links to a ‘virtual pipeline' of shipped LNG ensures resilience by giving the buyer access to diversified supply options," he said. 
 
"We are transitioning from long-term contracts to more flexible arrangements that hold appeal for buyers who are looking to wean themselves off coal and ensure a reliable energy supply…  The growth in spot trading means cargoes are always available, in a range of volumes.