Global LNG Demand Set to Rise to 2030
Global demand for liquefied natural gas (LNG), which reached 265 million tons in 2016, is set to grow to 2030, according to a new LNG Outlook report by Royal Dutch Shell plc.
“Global LNG trade demonstrated its flexibility time and again in 2016, responding to shortfalls in national and regional gas supply and to new emerging demand,” Maarten Wetselaar, integrated gas and new energies director at Shell, said.
“The outlook for LNG demand is set to grow at twice the rate of gas demand, at 4 to 5 percent a year between 2015 and 2030,” he added.
China and India, which are expected to continue driving a rise in demand, were two of the fastest growing buyers, increasing their imports by a combined 11.9 MT of LNG in 2016, Shell said. This boosted China’s LNG imports in 2016 to 27 MT and India’s to 20 MT.
Total global LNG demand increased following the addition of six new importing countries since 2015; Colombia, Egypt, Jamaica, Jordan, Pakistan and Poland. They brought the number of LNG importers to 35, up from around 10 at the start of this century.
Egypt, Jordan and Pakistan were among the fastest growing LNG importers in the world in 2016. Due to local shortages in gas supplies, they imported 13.9 MT of LNG in total, Shell said.
The bulk of growth in LNG exports in 2016 came from Australia, where exports increased by 15 MT to a total of 44.3 MT. It was also a significant year for the USA, after 2.9 MT of LNG was delivered from the Sabine Pass terminal in Louisiana.
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