ABSTRACT
Historically, natural gas has attracted much less international attention than is accorded to crude oil. The Soviet Union and the United States remain the world's two largest producers and consumers of natural gas. Additionally, natural gas proven reserves estimates, production, and export availability are also on the rise elsewhere in the developing world, notably in Mexico, Qatar, and the United Arab Emirates. The higher costs are attributable to substantial investments required for long-distance pipelines to transport natural gas or, in the case of liquefied natural gas, similarly large investments for specially designed tankers, gathering and liquefaction plants at the point of origin, and regasification plants at the final destination. The exporting countries have thus argued that natural gas prices should be brought into line with those of higher quality alternatives, notably crude oil. The chapter also presents an overview of the key concepts discussed in this book.
