Global LNG trade remains unchanged from 2019


Global LNG trade in 2020 was essentially unchanged from 2019, averaging 46.9 billion feet3/ d against 46.7 billion plants/ d in 2019, according to the 2021 annual report of The LNG Industry: GIIGNL recently published by the International Group of Liquefied Natural Gas Importers (GIIGNL). This 0.4% annual increase in LNG trade occurred despite the COVID-19 pandemic which reduced global demand for natural gas. Between 2015 and 2019, global LNG trade increased by 45%, posting record growth in 2018 and 2019. This expansion is mainly due to additions of liquefaction capacity in Australia, the United States and Russia, which accounted for together more than 90% of the world market. growth in liquefaction capacity during this period.

Graph from the United States Energy Information Administration, based on data from the International Group of Liquefied Natural Gas Importers (GIIGNL), The LNG Industry, Annual Reports (2010-2021).

According to the EIA, in 2020 LNG exports grew from just two countries – the United States by 1.5 billion feet3/ d and Australia by 0.3 billion feet3/ d – compared to 2019. Last year, the United States put several new liquefaction units (known as trains) into service, namely the third and final trains at the Cameron LNG, Freeport LNG and Corpus Christi LNG as well as the remaining trains to Elba Island. Island LNG export facility. With the spread of the COVID-19 pandemic and lockdowns in many LNG consuming countries, US LNG exports declined significantly in June and July 2020, but gradually increased in the months that followed and reached consecutive historic highs in November and December 2020.

In 2020, Australia became the world’s largest LNG exporter for the first time, overtaking Qatar, with exports averaging 10.2 billion feet.3/ d, an increase of 0.3 billion feet3/ d (3%) compared to 2019. Qatar’s exports decreased by 0.1 billion feet3/ d (1%) compared to 2019. Exports from all other countries remained stable or decreased, reaching a total of 1.6 billion feet3/ d down compared to 2019.

Of all the LNG importing regions, only Asia recorded an increase in annual LNG imports of 1.1 billion feet3/ d (3%), in 2020 compared to 2019. China and India were behind the overall annual increase. Chinese LNG Imports Increase 1.0 Billion Feet3/ d and India of 0.4 billion feet3/ d in 2020. In China, the continued growth of LNG imports is mainly the result of policies to substitute coal for natural gas supported by the government to reduce air pollution. In India, the all-time low LNG spot prices in the spring and summer of 2020 led to more fuel changes and increased imports of spot LNG. Japan’s LNG imports continued to decline in 2020, averaging 9.8 billion feet3/ d, which was 0.3 billion feet3/ d less than in 2019. European LNG imports fell by 5%, reaching an average of 10.7 billion feet3/ d in 2020, but remained well above 6.1 billion feet3/ d in 2017 and 6.4 billion ft3/ d in 2018, specifies the EIA.

Read the article online at: https://www.lngindustry.com/special-reports/13072021/global-lng-trade-remains-unchanged-from-2019/


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