LNG imports are shrinking instead of growing.

LNG imports are shrinking instead of growing; the reason isn't because ill conceived projects like Shell Broadwater are being turned down, it's because Asia and Western Europe are driving up prices. Shell Broadwater's theoretical $300 "savings" was pure fiction.

Figures released Thursday by the U.S. Energy Information Administration revealed imports in the first quarter of 2008 were less than half the volume compared with a year ago. Over the year, the agency expects a 12-per-cent drop compared with 2007.

"The decline in U.S. natural gas imports is the result of higher prices in Asia and Western Europe, which compete with the U.S. for LNG supplies," the agency said.

Toronto Star