Because a market in tradable liquefied natural gas (LNG) is emerging flows to Europe have more than doubled over the past decade and represent about one quarter of the world s total cross border gas trade Europe will need to invest heavily in new LNG terminals as another alternative to Russian gas.

Increase in LPG prices has been a politically sensitive matter in India as it potentially affects the urban middle class voting pattern.

Equally important, the panelists reported on the rising importance of liquid natural gas relative to pipeline gas, which has enormous geopolitical implications.

The corridors will provide a more direct transport route for oil and liquefied gas from Africa and the Persian Gulf, while minimizing exposure to sea lanes policed by the United States Navy.

Another alternative would be to build liquefied natural gas (LNG) terminals at Siberian ports, where it could be shipped to any port in the world with an LNG regasification terminal.

Some 100 billion should be invested in LNG over the next decade. Such investments will have big implications for Europe s gas industry and create more transparency in global gas pricing, because it is now possible to import gas from distant producers.

Yet, by voting against Iran at the International Atomic Energy Agency s governing board meetings in 2005 and 2006, India invited Iranian reprisal in the form of cancellation of a highly favorable 25 year, 22 billion liquefied natural gas deal.