October 12 2014 marks an important milestone in the history of the LNG industry.
Since the Methane Princess delivered the world's first commercial LNG cargo to the UK's Canvey Island regasification terminal on 12 October 1964, the sector has grown from this single trade between Algeria and the UK to over 400 trade routes involving 45 countries.
Now a major part of the global energy industry, Wood Mackenzie believes LNG will remain one of the fastest growing commodities for the next five decades.
Wood Mackenzie’s LNG research team has compiled a special infographic using our proprietary data, which maps out the first 50 years of the LNG industry.
LNG: the facts
- On 12 October 1964, the Methane Princess delivered the first commercial LNG cargo to the UK’s Canvey Island regasification terminal.
- The money Japan spent on importing LNG last year could have bought 197 jumbo jets, or 300,000 Ferraris, or 145 million iPads.
- Despite only being the fifth largest exporter so far in 2014, Indonesia has produced the most LNG in history at 721 million tonnes.
- A typical LNG ship can carry 155,000 m3, which could fill 221 million bottles of whisky. Once regasified it could fill 137 billion bottles.
- In the past 50 years, 424 LNG ships have been built. Over the next five years 127 new ships are due for delivery.
- Japan has been the biggest importer of LNG since 1970, in that time five different countries have taken the honour of largest exporter.
- Growth in global LNG production will mean it will take less than 11 years to produce as much LNG as was produced in the last 50 years.
Source: Wood Mackenzie.
Edited by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09102014/lng-infographic-from-wood-mackenzie-1570/