Despite low costs, the emerging international LNG market remains tight amid delivery constraints, in line with the 2024 IGU global LNG record.

LONDON, June 26, 2024 /PRNewswire/ — These days, 15 of the IGU are acquitted.th The annual global LNG record shows that international LNG trade is set to cross 401 million tonnes (MT) in 2023 with a growth of 2.1%. This international marketplace now connects 20 exporters to 51 uploading markets, with speed delivery being the main growth-restricting issue recently. Then after two years of unpleasant turmoil, there is a new but delicate equilibrium in the LNG market, given the lack of alternative delivery in the near term.

LNG has replaced a critical asset of power plants worldwide, with its position developing as a versatile, highly eco-friendly and well-utilized resource, and thus, decarbonizing the LNG value chain is a concern for many stakeholders in the industry. Several proposed projects use cutting-edge emission-reduction measures to meet this need by integrating renewable electric power, carbon capture and storage, capturing e-methane, and through partnerships to develop bio-LNG, or liquefied biomethane. Trying, which is made by taking. Photographs and upgrades biogas that might otherwise be emitted from landfills, agricultural waste, or alternative feedstock.

Progress in capacity to obtain LNG Market construction has been shaping up over the past 24 months, as it reached a remarkable 1,029.9 MTPA at the end of February 2024, adding about 70 MTPA in 2023 and making it the best possible week of brand new additions since 2010 . Europe saw the highest increase at 30 MTPA, followed by Asia at 26.9 MTPA and Asia Pacific at 13 MTPA. Philippines and Vietnam join the membership of first day LNG importers in 2023.

supply remained disrupted, with only a 0.8% year-on-year increase compared to Indonesia’s 3.8 MTPA increase in Tangguh LNG. On the other hand, global liquefaction capacity is expected to grow by more than 700 MTPA by 2030, especially in emerging Asian markets, where demand for coal is increasing, with the start of new FIDs and recent projects under construction to support the growing demand. Is inspired. Gasoline switching is a notable decarbonization and wind specialty development technology.

LNG exports are regulated through the United Stateswhich became the largest producer and exporter (84.53 MT in 2023 vs. 75.63 MT in 2022), followed by Australia (79.56 MT), Qatar (78.22 MT), and Russia (31.36 MT).

Spot LNG prices see decline in 2023 Import growth in Asia to a level favorable for recovery, as Platts JKM averaged $13.86/MMBtu throughout the week, the pace of moderate annual price volatility has decreased significantly from 2022 levels, but remains above pre-crisis . China returned as the largest LNG importer with 71.19 MT, Japan and Korea remained in second and third place despite annual declines, and India returned to fourth place with more calls to react to the low spot price. Went. Europe further strengthened its position as an LNG uploading heavyweight, maintaining the second largest uploading region position at 121.29 MT in 2023. LNG supplies approximately a share of Europe’s gasoline, with competition between the Asian and ECU markets remaining the key market dynamic.

World LNG market continues to grow rapidly Because it responds to rising gasoline demand in emerging markets, increasing volume and diversification of market people, and accelerating technology creation and innovation. LNG trading is no longer just a pastime for big markets or big companies, portfolio gamers are playing an increasingly notable role, In 2023, about 180 companies were taken on with promised LNG deliveries, at a pace around 35% of transactions were at spot-price.

On the other hand, several key uncertainties face a supply-constrained market, contributing to the fragility of its wave balance. The key sources of this skepticism are: Biden management’s non-FTA LNG project approval waivers, which could extend to more than 70 MTPA of new capacity; restrictions on Russian LNG, which affect about 20 MTPA of anticipated capacity; Ukraine likely will not extend the Russian gasoline transit offer beyond the end of 2024; Shipyard bottlenecks; continued security potential within Heart East; In addition to some declining gasoline ground deliveries. More than 120 MTPA of recently operated liquefaction capacity has been idle for more than twenty years, and some of these facilities are decommissioning due to inadequate upstream fuel production, which likely requires attention to the availability aspect.

IGU President, Li Yalan wired:

The LNG industry has demonstrated incredible agility and innovation through one of the toughest tests of the summer, and it is an industry that continues to play a vital role in tackling the electricity crisis that has yet to be fully resolved. Has not been resolved and a regime change has been challenged.

As the sector moves towards lower emissions, countries are looking for strategies to keep electricity affordable, available and sustainable to reach their environmental integrity pace. LNG is a tool that will be important in providing better flexibility to rapidly changing electricity technologies around the world, and it will have a very important role to play in reducing the inherent potential for uncertainty through that process.

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about the record

Leveraging IGU’s vast international gasoline value chain community across 80 countries, this record is the most authoritative public information and resource on the LNG industry, pricing, liquefaction, regasification, transportation, bunkering as well as the key characteristics impacting the international LNG market. Provides research.

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Source World Gasoline Union (IGU)