OIL & GAS TECHNOLOGY
By the end of 2015, 34 nations were importing LNG, up from 15 in 2005. In the Middle East alone, LNG imports have grown by more than 380 per cent over the last three years. This trend is expected to continue as countries throughout the region (and beyond it) seek to capitalise on clean and abundant natural gas supplies across the globe.
With the prospect of deficits in power generation capacity in many parts of the world, the LNG to power concept has emerged as a powerful driver of future sustainability. LNG to power projects offer many benefits including the ability for power plant operators to add electric generating capacity on an expedited basis and a means to alleviate intermittent power issues caused by renewables, such as wind and solar. Bringing these projects to life, however, is a complex undertaking that requires intensive capital investment from a variety of debt and equity sources, along with innovative financing structures to minimize overall project risk.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2017, which ended on September 30, 2017, Siemens generated revenue of €83.0 billion and net income of €6.2 billion. At the end of September 2017, the company had around 377,000 employees worldwide. Further information is available on the Internet at www.siemens.com.