Six New Records Set by Liquified Natural Gas Industry in 2019, New IHS Markit Data Shows
WASHINGTON, D.C.--(BUSINESS WIRE)--Jan 21, 2020--
2019 was a record-shattering year for the liquified natural gas (LNG) industry, says a new report by IHS Markit, (NYSE: INFO), a world leader in critical information, analytics and solutions. The report, entitled 2019: A Year of Records for LNG says that the numerous records are indicative of a sustained growth trend, with global LNG capacity expected to increase by more than 50%—from 283 million metric tonne per annum (MMtpa) in 2015 to 437 MMtpa in 2020.
“The ongoing pace of new investment is especially noteworthy considering a market context of weak global prices,” said Michael Stoppard, chief strategist, global gas at IHS Markit. “Not only did LNG grow at an unprecedented rate in 2019, but the industry also laid the foundations for continued strong growth into the middle of the decade.”
Key records set by the LNG industry in 2019 were:
Additional Reference: IHS Markit 2019 LNG Trade Figures
LNG supply in 2019 totaled 373.0 million tons (MMt), up 11.8% from 2018 or 39.5 MMt. The largest increases in LNG exports came from the United States (37.7 MMt total, up 15.2 MMt), Russia (30.2 MMt total, up 10.1 MMt) and Australia (80.2 total, up 7.7 MMt). 1
Net LNG imports reached 358.8 MMt in 2019, up 40.5 MMt from 2018. Regionally, LNG imports 2 grew the most into Europe, totaling 87.2 MMt relative to 49.9 MMt in 2018. For individual countries, the United Kingdom registered the largest growth (13.3 MMt total, up 8.1 MMt), followed by France (16.3 MMt total, up 7.8 MMt), and China (62.4 MMt total, up 7.4 MMt).
Japan remained the largest LNG importer, receiving 77.5 MMt in 2019. However, this was a decline from 83.2 MMt in 2018, making Japan the market with the largest decrease in LNG imports in 2019. China remained the second largest importer OVER THE ENTIRE YEAR. South Korea remained the third largest importer in 2019, with 41.0 MMtons, however it also had the second largest decline relative to 2018 (down 3.5 MMtons).
For more information about the report 2019: A Year of Records for LNG or about IHS Markit LNG research services visit https://ihsmarkit.com/products/LNG-market-outlook-demand-forecast.html
About IHS Markit ( www.ihsmarkit.com )
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.
1 Supply figures are LNG production and loaded volumes. These are higher than delivered or import volumes because of LNG used or lost in transit.
2 All import figures are net imports, with reloads excluded
View source version on businesswire.com:https://www.businesswire.com/news/home/20200121005232/en/
CONTACT: News Media Contact:Jeff Marn
+1 202 463 8213
Jeff.email@example.com Press Team
+1 303 858 6417
KEYWORD: DISTRICT OF COLUMBIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER ENERGY OTHER PROFESSIONAL SERVICES OIL/GAS ENERGY FINANCE
SOURCE: IHS Markit
Copyright Business Wire 2020.
PUB: 01/21/2020 10:00 AM/DISC: 01/21/2020 10:01 AM