The use of natural gas (CNG) in the world energy market is growing faster than that of any other fossil fuel. To monetize this resource, economic ways to transport the gas must be found. Options, including marine and terrestrial pipelines, and volume reduction alternatives such as liquefied natural gas (LNG) and compressed natural gas (CNG), can be considered. Marine compressed natural gas has a number of attractions and is one of a range of technologies under development for monetising stranded natural gas. It is in the final stages of commercialization with the first project anticipated to be on line in 2011. After years of effort, several of technology proponents have conquered the technical issues, receiving approvals from the Classification Societies and accelerating the technology by better defining the niche application. This paper presents the evolution and challenges of implementing a new gas transportation technology and gives an overview of the existing technologies.
The global consumption of natural gas has been increasing at a very rapid pace. In 2006, estimated natural gas consumption worldwide was over 100 trillion cubic feet, a 60 percent increase over the past 20 years and a 27 percent increase over the last 10 years. By 2030, the Energy Information Administration predicts an increase to almost 190 tcf annually, or 27 percent of the world's predicted total energy demand, up from today's 23 percent (BP, 2008). Consumption of natural gas has been increasing rapidly making it one of the most important energy resources in the world. During the last decade the consumption of natural gas increased by almost 25% (BP, 2008). By 2020 natural gas is predicted to increase its world energy share to as much as 50% from the present of 22% (Economides et al., 2000).
