members, any suggestion of cartel activity is likely to cause concern amongst parties
seeking to develop LNG projects or those relying on LNG imports.
4.1 Introduction
The LNG value chain is a process continuum by which natural gas is produced,
transformed into LNG, transported from where it is produced to where it is needed
and consumed once it has been restored into its gaseous state as regasified LNG. The
value chain lends itself to divisions between the upstream (being natural gas
production, transportation and liquefaction), the midstream (being LNG sales and
shipping) and the downstream (being LNG regasification and regasified LNG
storage and downstream transportation). The following diagram illustrates the LNG
value chain.
Storage &
Natural Gas Natural Gas Natural Gas LNG LNG
LNG Sales Downstream
production transportation Liquefaction Shipping Regasification
Transportation
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