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The International group of liquefied natural gas importers released its annual report, “The LNG Industry in 2014.”
The group analysed the prospects and results of the sector, remarking that the global LNG industry can look back on 2014 as another year of relative stagnation, as LNG trade reached 239.2 MMT, a 1% increase over 2013, but just below 2011 levels. New liquefaction plants came on Stream in Papua New Guinea (PNG) and Algeria started producing through an expansion train, Angola, Egypt and Qatar did not deliver up to their expectations, limiting the volume of additional LNG supply. Market tightness, a factor observed in recent years, was loosened by low demand in South Korea and a lower than expected Chinese growth.
Nonetheless, the Ukraine-Russia crisis and the start-up of six new regasification terminals worldwide underlined the importance of LNG as an effective tool to ensure security of supply. In this regard Floating Storage & Regasification Units (FSRUs) are continuing to expand worldwide, with 20 units on the water at the end of 2014 and several more to come in 2015. Prospects for LNG demand throughout the world remain strong, and the industry is waiting for the wave of new exports from the United States and from Australia, who will likely top the producers’ list by 2020. It is to be noted as well that the dominant market share and role of Middle East producers will diminish.
Full report is available here.
If you are interested in the topic, it will be discussed on the 11 and 12 of June, during the the Third ConferenzaGNL, to which the GIIGNL will also be partecipating. For further information, full program is available here and registration is possible here.
Redazione ConferenzaGNL.
