Global LNG Production to Grow 11% This Year
Global Liquefied Natural Gas (LNG) production is on the growth trajectory as the global liquefaction capacity is expected to increase from 396 Mt in 2018 to 434 Mt in 2019.
According to the energy consulting service company Rystad Energy, most of the new capacity will be added by the commissioning of US projects.
The US capacity expected to grow from 29 Mt to 61 Mt this year as Cameron LNG, Elba Island and Freeport start operations and Sabine Pass and Corpus Christi continue to ramp up.
Australia will overtake Qatar as the world’s largest LNG exporter with the ramp up in production in Prelude FLNG and Ichthys, it said.
With the new capacity, global LNG production will reach close to 350 Mt this year up 11% YoY which will lead to a looser market.