This is to be a talk about the liquified natural gas business, its potentialities and possibilities. It is a new business and one which can hardly be said to have started yet, as the first regular commercial cargo of liquefied natural gas has not yet been shipped. Nevertheless and in spite of this, I think that it is already reasonable to say that it is a business which will develop very considerably, in all probability on a worldwide scale. I do not think it would be going too far to describe its present stages as the birth of a whole new industry.
The first full scale commercial LNG venture will start operations this summer moving natural gas from Algeria to England. The liquefaction plant at Arzew near Oran will have a capacity of about 150/MM/CFD; two thirds of this capacity is for British Market and two ships are now nearing completion to carry this gas to the terminal installation in England which is being constructed by the Gas Council of Great Britain. About one third of the output of the liquefaction plant is destined for the French gas market and the French are now building a third LNG ship to carry this. I do not propose to describe this project and its history in detail.