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Global LNG production capacity to increase by 130 billion m3 by 2018 as 12 new liquefaction plants open IEA report says.
Global production capacity will increase by 130 billion m3 by 2018 as 12 new liquefaction plants open, the Paris-based International Energy Agency said in a report published in November 2013.
There were 89 liquefaction plants operating at the end of last year with annual capacity of 384 billion m3.
Supply will be boosted from 2015 as projects from Australia to the U.S. start producing, GIIGNL (the International Group of Liquefied Natural Gas Importers) said in June. Trade is also expected to increase 31% by 2018, from last year’s levels. GIIGNL estimates International trade in LNG reached 236.6 million tons in 2012, from 171.1 million tons in 2007.
“Interest has been growing particularly as participants find new uses for LNG,” said George Stein, the New York-based managing director of Commodity Talent LLC, a recruitment company.
The LNG market is valued at more than USD 150 billion, according to Rob West, an analyst at Sanford C. Bernstein in London. That’s based on the 240 million tons traded last year at an average price of USD 13 per 28.317 m3. Demand will reach 480 million tons by 2035, Bernstein said in a September report.
Source: Bloomberg
There were 89 liquefaction plants operating at the end of last year with annual capacity of 384 billion m3.
Supply will be boosted from 2015 as projects from Australia to the U.S. start producing, GIIGNL (the International Group of Liquefied Natural Gas Importers) said in June. Trade is also expected to increase 31% by 2018, from last year’s levels. GIIGNL estimates International trade in LNG reached 236.6 million tons in 2012, from 171.1 million tons in 2007.
“Interest has been growing particularly as participants find new uses for LNG,” said George Stein, the New York-based managing director of Commodity Talent LLC, a recruitment company.
The LNG market is valued at more than USD 150 billion, according to Rob West, an analyst at Sanford C. Bernstein in London. That’s based on the 240 million tons traded last year at an average price of USD 13 per 28.317 m3. Demand will reach 480 million tons by 2035, Bernstein said in a September report.
Source: Bloomberg