July 2009

Trends and Resources

HP Impact: HPImpact: LNG outlook: spare global capacity and weak demand

LNG players are living in a time of falling gas demand, plunging prices and a world awash with LNG. In 2008, global LNG trade reached 171.1 million metric tons (MMton), which represented a 0.4% (or 0...

Weirauch, Wendy, Hydrocarbon Processing Staff

LNG players are living in a time of falling gas demand, plunging prices and a world awash with LNG. In 2008, global LNG trade reached 171.1 million metric tons (MMton), which represented a 0.4% (or 0.7 MMton) decline compared with 2007. Although in 2008, LNG imports in Asia and Europe were stronger than 2007 by approximately 4.5%, LNG imports in the Americas posted a massive decrease (40.5% or 7.6 MMton). This was driven by a substantial decline in the US. European buyers showed the highest growth in LNG imports in 2008, followed by Asia, whereas the significant drop in US imports counterbalanced the LNG trade (Fig. 1).    

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