A review and outlook for the global LNG trade

Abstract The evolution of global and regional LNG trade over the past twenty years has been a story of rapid growth, diversification and increased flexibility in LNG cargo movements. Asia continues to dominate global LNG trade, but the European LNG market has evolved significantly in the past decade and seems destined for sustained growth and diversification over the next decade or so. Despite the LNG import market in North America being overwhelmed by unconventional gas developments in the past few years, future sustained growth of LNG demand in Asia and Europe are underpinned by firm new project commitments. A number of North American LNG export projects are progressing with a view to supplying this growing market demand in Europe and Asia. New gas discoveries in deepwater offshore East Africa and Eastern Mediterranean are also likely to compete for LNG market share in growing European and Asian gas markets Country and regional statistics presented illustrate how significantly the global LNG industry has changed in the past decade. These statistics reveal the complexity of commercial, political and technical drivers at play, particularly in the case of Europe, and how these drivers are conspiring to boost future demand for LNG.