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International LNG undertaking developments spurred on by Russia’s invasion of Ukraine materialised this 12 months, because the US and Qatar solidified their positions as prime builders of export capability, while Asian and European nations scrambled for brand new import capability, in accordance with a report from International Power Monitor.
Based on knowledge within the International Fuel Infrastructure Tracker, the main nations creating new export terminals are: the US (336.9 million tpy), Russia (164.1 million tpy), Canada (75.8 million tpy), Mexico (69.3 million tpy), and Qatar (49 million tpy).
Whereas comparatively little new LNG export capability has come on-line lately, a wave of recent initiatives – half of that are underneath development in the US and Qatar, totalling 74 million tpy and 33 million tpy, respectively – might saturate the worldwide LNG market, growing competitors amongst exporters and rendering some initiatives unprofitable. The following provide glut might go away governments and buyers with pricey stranded belongings.
New import capability is dominated by Asia (454 million tpy) and Europe (183 million tpy), with China (267.9 million tpy), India (75.2 million tpy), and Germany (65.4 million tpy) having probably the most capability in growth.
Nonetheless, LNG demand in Europe might show short-lived because the continent pursues its decarbonisation agenda, and the worth sensitivity of many Asian importers has known as into query LNG demand development forecasts.
Robert Rozansky, International LNG Analyst at International Power Monitor, stated: “Constructing new LNG initiatives when fossil demand is predicted to peak this decade is a dangerous proposition for buyers and governments alike. If even a fraction of those initiatives go forward it might threaten to additional delay the power transition throughout a crucial interval.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/29122023/trillion-dollar-lng-stocktake-five-countries-plan-75-of-new-export-capacity-90-of-new-import-capacity-lined-up-for-asia-and-europe/
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