RIA Novosti: APEC Eyeing LNG Market Expansion in Asia-Pacific

As this year's Asia-Pacific Economic Cooperation (APEC) summit is paying particular attention to the energy cooperation given the changing structure of the world energy market, the member countries are considering an increase in liquefied natural gas (LNG) trade in the region.

APEC has a number of working groups within its framework. The LNG trade issue is mostly being discussed by the forum's Energy Working Group (EWG). On September 2, EWG was instructed by the Energy Ministers of APEC member economies to introduce the LNG Trade Facilitation Initiative, aimed at ensuring "the interests of LNG suppliers and consumers" and boosting "the healthy development of APEC natural gas markets".

The LNG Trade Facilitation Initiative was welcomed by the joint APEC ministerial statement, made after the November 7-8 meeting, showing support for the development of the region's LNG market of the forum's member countries' most prominent representatives.

The future of the LNG market development in the Pacific Rim, however, is a very complex one to predict, especially when it comes to the region's largest countries, such as Russia, China and the United States. MORE