9 new countries expected to enter LNG market

Baku, Azerbaijan, Oct.19

By Leman Zeynalova – Trend:

Nine new countries are expected to enter the liquefied natural gas (LNG) market by 2022, according to the International Energy Agency’s (IEA) latest assessment of global gas security.

IEA expects global LNG imports to grow from around 355 billion cubic meters in 2016 (including re-exports) to over 460 billion cubic meters in 2022.

“A number of buyers move their position towards a higher share of LNG in their natural gas supply, and nine new countries are expected to enter the LNG market over this period,” said the report.

IEA expects an increase in LNG demand in most countries and territories, notably in the People’s Republic of China (hereafter, “China”), India, Thailand and Pakistan.

“The market for liquefied natural gas is growing in volume, with nearly 200 billion cubic meters of liquefaction capacity additions anticipated by 2022, in suppliers, with the emergence of Australia and the United States, and in new markets, with 47 countries and territories expected to import LNG by 2022 compared to 38 in 2016,” said report.

The emergence of the United States as a major player in global LNG trade is beginning to have a major impact both in terms of the volumes of LNG available to the market, and also in respect of the flexible conditions under which LNG is made available to the market, IEA experts believe.

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