LNG Outlook

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LNG Outlook 2020

  • Continuous expansion in LNG import capacity, especially in China, led to relentless growth in gas liquefaction capacity
  • LNGC owners followed suit, triggering a LNG shipping capacity glut
  • However, China and other major buyers (e.g. Japan) did not produce the demand to meet capacity
  • Mexico is also likely to exit the LNG market as a buyer in the coming years
  • Southeast Asia and the Middle East are the most promising locations for LNG demand growth
  • Yet, even that growth may not be strong enough to absorb all unwanted LNG released from China, Japan and elsewhere
  • US LNG will need to find new destinations, likely Europe but also elsewhere – even for the early movers
  • Eventual LNG demand growth will be tempered by coal in particular, which is unlikely to yield market share to LNG without a fight

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