ShareIndian LNG demand shows rapid growth due to high demand
The Indian Ministry of Petroleum and Natural Gas claims that LNG accounted for 41% of India’s total gas consumption in 2012 - 2013 and will account50% in 2013 – 2014: a 25% rise.
Importing of LNG is a relatively new phenomenon for many Asian countries: India started in 2005, China in 2006, Thailand in 2011, and Indonesia and Malaysia in 2012.
Japan imports the largest quantity of LNG of any nation (87.4 million tonne in 2012), accounting for around 35% of global demand.
China’s growing demand for cleaner fuel, combined with new re-gasification terminals,has pushed LNG imports to a new high,with the country importing close to 13 million tons in the first nine months of 2013, up by 23% compared with 2012.
Needless to say, Asia Pacific has long stood as an important LNG market for both consumers and suppliers with Japan and South Korea primary import market players, together accounting for over half of global LNG demand.
India, with around 1.2 TCM (trillion cubic meters) of natural gas reserves is also set to play a key role in LNG demand in the next decade. With many of the country’s largest oil and gas companies looking to expand the country’s LNG re-gasification capacity, 2013 was expected to mark a turning point for the gas retail industry, which is in growing need of more supplies.
The Indian Ministry of Petroleum and Natural Gas claims that LNG will account for 41% of India’s total gas consumption in 2012 - 2013 and 50% in 2013 – 2014: a 25% rise. India’s current demand is at 341.1 MMSCMD (million standard cubic meters a day) as compared to a supply of just 198.4 MMSCMD.
The global LNG market continues to tighten and indeed will remain supply-constrained and tighter for longer than many industry observers assume, until the end of the decade at least.
Source: Infraline Energy
Japan imports the largest quantity of LNG of any nation (87.4 million tonne in 2012), accounting for around 35% of global demand.
China’s growing demand for cleaner fuel, combined with new re-gasification terminals,has pushed LNG imports to a new high,with the country importing close to 13 million tons in the first nine months of 2013, up by 23% compared with 2012.
Needless to say, Asia Pacific has long stood as an important LNG market for both consumers and suppliers with Japan and South Korea primary import market players, together accounting for over half of global LNG demand.
India, with around 1.2 TCM (trillion cubic meters) of natural gas reserves is also set to play a key role in LNG demand in the next decade. With many of the country’s largest oil and gas companies looking to expand the country’s LNG re-gasification capacity, 2013 was expected to mark a turning point for the gas retail industry, which is in growing need of more supplies.
The Indian Ministry of Petroleum and Natural Gas claims that LNG will account for 41% of India’s total gas consumption in 2012 - 2013 and 50% in 2013 – 2014: a 25% rise. India’s current demand is at 341.1 MMSCMD (million standard cubic meters a day) as compared to a supply of just 198.4 MMSCMD.
The global LNG market continues to tighten and indeed will remain supply-constrained and tighter for longer than many industry observers assume, until the end of the decade at least.
Source: Infraline Energy