LNG Exports of USA Were at Maximum Number in January

Increase in LNG Spot prices have resulted in the increase of price spread in Atlantic and Pacific basins, thereby boosting the demand for LNG globally.

United States: According to Energy Information Agency, the USA Cheniere Sabine Pass Liquefaction plant in Louisiana had exported nearly 15 cargos of LNG in January 2017. Most of these cargos were exported to Asia, due to increase in the winter temperature which increased residential heating demand. Moreover, the increase in the Spot LNG prices in Atlantic and Pacific basins also up-thrust the demand of LNG from various importing countries to avoid the volatility of LNG prices. On account of increase in LNG exports, the LNG market is expected to grow faster in the near future.

TechSci Research depicts that growing focus on expansion of gas pipeline infrastructure, rising demand for natural gas from downstream sectors, declining LNG prices coupled with implementation of favourable government policies is boosting demand for LNG across the globe. Increasing focus on development of adequate support infrastructure in various developing as well as developed economies is expected to boost LNG demand in the coming years.

According to released report of TechSci Research, “Global LNG Market Demand & Supply Analysis, By Region, By Country, By LNG Terminal, Competition Forecast and Opportunities, 2011-2025”, global LNG supply market is forecast to exhibit a CAGR of over 5% during 2016-2025, on account of rising demand for cleaner fuels; oversupply of LNG due to liquefaction capacity additions in Australia, US and Papua New Guinea; and declining prices of LNG over the last few years. In 2015, global LNG export market was dominated by Qatar and Australia, due to huge natural gas reserves and large liquefication capacities in these countries. Increase in spot market purchase is expected to keep LNG prices under check in Asia-Pacific and Europe.