According to the latest Bloomberg report, the US may have surpassed Australia and Qatar to become the world’s biggest supplier of LNG by 2035.
The US already has about 70 million tpy of LNG capacity coming online. That compares with Australia’s 87 million and Qatar’s 82 million t, respectively. The world will meanwhile need another 20 million t of new LNG supply a year installed over five years.
This would be a monumental shift for the US, which just a decade ago was facing declining gas production and was building terminals in anticipation of importing more of the fuel. The shale boom instead propelled US supplies to record levels.
In fact, the US’ LNG production may be growing too fast. A worldwide glut of the fuel, brought on by weakening demand in Asia and increasing supplies from countries including the US and Australia, sent investments in new export projects to a 17-year low in 2016. Tellurian is betting that the market will eventually re-balance, setting the stage for a rebound after 2020.
Read the article online at: https://www.lngindustry.com/liquefaction/13032017/us-set-to-be-worlds-largest-lng-supplier/