The annual report of global LNG industry is published in 201

Release Time:2020-05-28 10:58Views:

Recently, the International Gas Union (IGU) released its 2020 annual LNG report. The comprehensive analysis highlights all major changes in the global LNG industry in 2019.

This report focuses on the latest developments in the global LNG industry, including the entire value chain. LNG continues to enhance global energy security and increase the flexibility to access a rich global natural gas supply.

In the sixth consecutive year of growth, LNG trade increased by 13% to 354.7 million tons.

Although 37 markets in the global LNG market have no new customers in 2019, the newly added countries - Bangladesh, Pakistan, Poland and Panama - have increased the purchase volume of LNG, which is a gratifying phenomenon. Meanwhile, mature markets such as India are adding new floating regasification capacity.

Fsru remains an exciting and growing area, improving access to modern energy and energy security globally. As of February 2020, 19 of the 37 existing LNG import markets have imported LNG through fsru, 6 of which also have onshore terminals.

Export growth came from the United States, Russia, Australia, Algeria and Egypt. At present, the United States is the third largest LNG exporter in the world, after Qatar and Australia, and Russia is the fourth. Asia Pacific and Asia remain major demand centers, accounting for nearly 70% of global LNG imports in 2018.

2019 is another record low year driven by increased natural gas production, new export infrastructure in use and limited demand response in the Asian market.

Source: Sinopec news

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