LNG trade in 2017 to grow fastest since 2011

10.10.2017

Imports of liquefied natural gas (LNG) will set a new record this year (8.8% growth), according to the latest forecast from Bloomberg New Energy Finance’s global gas team.

The following facts are among the reasons of such a high growth:

Uncertainty of nuclear power generation in Northeast Asia,
Energy market reforms and air pollution in China,
Higher capacity in major exporting regions.

The following effects slow the growth down:

Qatar’s rift with Saudi Arabia,
Demands for export curbs in Eastern Australia
Falling demand in Latin America.

Presently, the largest LNG importer is the region consisting of Japan, South Korea and Taiwan. Import in this region is, however, dropping, and from 2025, China, India and ASEAN (Southeast Asia) together will import more LNG than Japan, Korea and Taiwan combined.

According to the new report, LNG will expand to new markets thanks to low prices and new technology.

-tk-