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...executive says the island could eventually become as important to the industry as the Gulf of Mexico. SE is finishing a pair of underground 500-mile pipelines down the spine of the island that will deliver oil and natural gas to the one of the biggest liquid natural gas (LNG) terminals in the world, from which it will be exported to the energy-hungry economies of East Asia. Unlike the rest of Russia, unemployment on Sakhalin is virtually unknown, and money is pumping through an island economy once impoverished even by the grim standards of post-Soviet Russia...
...Moscow puts post-Soviet poverty behind it, the residents of Sakhalin are experiencing the energy boom in a manner familiar to many citizens of oil-rich nations. "I'm a native," says Vasili Plotnikov, a pensioner who owns a tiny country shack just a few miles from the massive LNG terminal. "I don't see any plus. I only see negatives." Maybe Chekhov's hell wasn't so bad, after...
...Pilbara miners and North West Shelf gas-platform workers, we consult a friendly resident and get a pointer to the location. Back on the peninsula, we walk through tangled, prickly foliage and over jagged rocks. Laden with three cameras, Parker forges ahead alone, the din of Woodside's LNG plant and the whistling wind blocking out attempts at voice contact between us. Parker uses the factory's fiery emission stack to get his bearings until, half veiled in shadow a few meters above the valley floor, he finds what he's looking for: the "climbing...
...logistical problems. It can't be shipped unless it's cooled and liquefied. For now, 85% of the gas we use is produced domestically. The rest arrives by pipeline from Canada, except for about 1% imported from such countries as Trinidad and Nigeria by tankers carrying liquefied natural gas (LNG). That equation is shifting. Production in the U.S. has slipped, down an estimated 5% in 2005, largely but not entirely because of storm damage to facilities in the Gulf. Meanwhile, Canada is consuming more of the gas it produces, leaving less to export. In short, we aren't getting enough...
WHAT ABOUT IMPORTING MORE LIQUEFIED NATURAL GAS? Energy companies would love to ramp up the trade in LNG, and European countries grew keenly interested after Russia and Ukraine got into a nasty spat over gas supplies a few weeks ago, roiling world gas markets. But there are tall hurdles. The U.S. has just five LNG receiving terminals, and while regulators in the U.S., Canada and Mexico have approved 15 more, the projects are hardly assured. Australian firm BHP Billiton, for one, wants to construct an offshore regasification plant the size of three football fields off the coast of Oxnard, Calif...