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LNG import terminal and storage. Power plant is shown in the background on upper left hand side
Copyright © 2018 BlueHawk Energy, Inc.
Copyright © 2017 BlueHawk Energy, Inc.
The demand for natural gas (whether supplied as LNG - liquefied natural gas, or as pipeline gas) is very strong and growing significantly, especially in large, rapidly expanding markets in Asia. According to many industry analysts, LNG demand is expected to increase nearly significantly in coming years - an average annual growth rate of 8 percent. Roughly 80% of LNG is supplied for use as fuel feed stock for electricity power generation.
According to Royal Dutch Shell Company, global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year. The LNG trends in 2016 shows that total global demand for LNG has increased with the addition of six new importing countries since 2015:.... Colombia, Egypt, Jamaica, Jordan, Pakistan and Poland. China and India are fast growing buyers, with the number of LNG importers worldwide up to 35, from 10 back in year 2000.
Most of the 2016 growth in LNG exports came from Australia, where exports increased by 15 MT to a total of 44.3 MT. The USA also had a significant growth year which delivered 2.9 MT from the Sabine Pass terminal in Louisiana. Shell also predicts that LNG demand is set to grow at twice the rate of gas demand, at around 4 to 5% / year between 2015 and 2030.
It is predicted that from 2020 to 2030 most new LNG demand growth will be driven by: policy, FSRU development and technology (floating storage re-gasification units), replacing declining domestic gas production, small scale LNG and transport.
LNG prices are forecast to be governed by factors such as oil prices, global LNG supply and demand dynamics, as well as the cost of new LNG facilities. In addition, LNG trade is changing to meet the evolving needs of buyers, including shorter-term and lower-volume, spot market contracts