HOUSTON, Sept. 28 (Xinhua) -- Liquefied natural gas (LNG) oversupply lasts no longer , Meg Gentle, CEO of Tellurian which involves in natural gas business, said on Thursday.
In her speech on Thursday during the first Global Energy Transitions Summit co-hosted by the law firm Baker Botts L.L.P. and the Baker Institute's Center for Energy Studies in the U.S. city of Houston, Gentle said the demand for LNG has been growing at 12 percent annually, and the United States is taking advantage of the trend by using low-cost gas to increase its production.
LNG is natural gas converted to liquid state, easy and safe for non-pressurized storage or transport.
Exporting just 1-2 percent of the world's LNG last year, the United States by 2019 will soar past 13 other exporters and become the third largest LNG exporter behind Qatar and Australia. Enterprise Products Partners L.P. based in the U.S. city of Houston is the largest exporter of LPG in the world, and its bulk of export goes to Asia.
According to Robert Johnston, CEO of the world's largest political risk consultancy Eurasia Group, Asia is likely to win clean energy tech race in transportation, clean cities and power generation.
The one-day Global Energy Transitions Summit in Houston features over a dozen prominent speakers from oil, gas and power industries -- including CEOs and other corporate leaders, along with industry experts in finance, investment and law -- covering topics from oil, gas to electricity, renewables and technology.