Global LNG Market

Global LNG trade in 2013 was 236.8 million tonnes. The share of gas demand met by LNG has been increasing by approximately 7.5% per annum since 2000. An estimated 75% of global LNG demand comes from Asia, with 41% of global LNG demand being supplied from the Middle East. . In 2013, two new liquefaction projects were brought online, global liquefaction capacity was 290.7 million tonnes and global regasification capacity was 688 million tonnes. The LNG shipping fleet grew by sixteen vessels bringing the total number of LNG carriers to 357 in 2013.

Liquefaction
The country with the largest liquefaction capacity continues to be Qatar with more than 27% of global capacity. However, Australia is expected to overtake Qatar by 2017. North America now accounts for 399 million tonnes per annum of proposed pre-FID (Final Investment Decision) capacity. New gas discoveries in East Africa also offer huge potential for liquefaction growth in the future. The top ten liquefaction capacities by country are:


 * Qatar
 * Indonesia
 * Australia
 * Algeria
 * Nigeria
 * Trinidad
 * Egypt
 * Oman
 * Russia
 * Brunei

Regasification
LNG regasification capacity continues to exceed liquefaction capacity as more and more countries turn to LNG to meet their energy demand and replace existing fuels like coal and oil. Israel, Malaysia and Singapore completed their large-scale LNG import terminals in 2013. There are currently 29 countries importing LNG in the world. The largest regasification market continues to be Japan with 28% of global capacity. The largest regasification capacities by country are:


 * Japan
 * US
 * Korea
 * Spain
 * UK
 * China
 * France
 * Mexico
 * India
 * Taiwan

Shipping
Conventional (traditional) moss and membrane type vessels have capacities ranging from 125,000-180,000 cubic metres. In recent years, the average size of LNG carriers has increased due to commissioning of larger Q-series vessels associated with Qatari projects. The Q-series includes both the Q-Flex (210,000-217,000 cubic metres) and Q-Max (261,700-266,000 cubic metres). Membrane type LNG carriers (LNG containing tanks are built into the structure of the ship's hull) continue to be the preferred vessel for new orders. In 2014, 31 vessels are scheduled for delivery.

LNG Demand Growth
According to the International Energy Agency, net natural gas trade is expected to increase from 685 bcm in 2011 to 1092 bcm in 2035. The increase in gas imports is mostly due to Asian importers; the traditional consumers such as Japan, Korea and Chinese Taipei combined with emerging gas consumers such as China, India, Indonesia, Thailand and Malaysia. Most of this gas is set to be delivered as LNG.

According to an analysis by BP by 2030, LNG is projected to account for 16% of global gas consumption.

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