Global LNG capacity is expected to more than double to 81 million tpy by 2019, according to research conduced by GlobalData. The research was based on proposed LNG liquefaction projects and concluded that the global market will be spearheaded by North American gas. Growth in liquefaction projects is also anticipated in Europe, Africa, and Asia.
GlobalData’s Head of Oil & Gas Research and Consulting, Matthew Jurecky, stated: “Shale operators in North America have eyed international markets since 2009, when BG Group entered into a joint venture with Exco Resources in the Haynesville Shale. Shortly after, in 2010, the first application for an LNG export facility in the US was made by Cheniere, before BG announced a long-term LNG scale and purchase agreement with Cheniere in 2011. With Shell acquiring BG in early 2015, the global LNG leader is now also lined up behind the emerging US shale gas market.”
Global regasification is expected to increase by approximately 50% to 60 trillion ft3, lead by China and India, “with a combined US$20.6 billion proposed to increase regasification capacity by 7 trillion ft3 in the two countries by 2019”, commented Jurecky.
Edited from press release by Angharad Lock
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