Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



LNG trade grows 10 pct in 2017 as U.S., Australia boost exports

(Reuters) - Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in Australia and the United States, the U.S. Energy Information Administration (EIA) said.

LNG trade reached 38.2 billion cubic feet per day (bcfd) in 2017, up 3.5 bcfd from 2016 and the largest annual volume increase on record, the EIA said, citing the Annual Report on LNG trade by the International Association of Liquefied Natural Gas Importers (GIIGNL).

Chart (5)
Chart (6)
Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in Australia and the United States (Source: EWA) 

New liquefaction export capacity commissioned in Australia, the United States and Russia, collectively added 3.4 bcfd of liquefaction capacity. Russia's new capacity only came online in December.

The world's first floating liquefaction plant, Malaysia's 0.2-bcfd PFLNG Satu, was also commissioned in 2017, EIA said.

Including additions in the United States and Australia, liquefaction projects currently under construction are projected to increase global capacity by 13.5 bcfd by 2022, EIA said.

One billion cubic feet of natural gas is enough to fuel about five million U.S. homes for a day.

In 2017, there were 19 LNG exporting countries and 40 importing countries.

Besides Australia and the United States, EIA said several other countries also increased LNG exports in 2017, including Angola, Nigeria, Malaysia, Algeria, Russia and Brunei, which together added another 1.4 bcfd of exports.

That more than offset a combined decline of 0.6 bcfd in exports from Qatar, Indonesia, Norway, Peru, the United Arab Emirates and Trinidad, the EIA said.

Asian countries led growth in global LNG imports, accounting for 74 percent, or 2.6 bcfd, of the increase in 2017.

Japan remained the largest LNG importer at 11.0 bcfd in 2017.

China had the largest growth in LNG imports globally at 1.5 bcfd and became the world's second-largest LNG importer at 5.2 bcfd in 2017, surpassing South Korea.

LNG imports also increased in South Korea, Pakistan, Taiwan, and Thailand, which collectively added 1.0 bcfd.

Europe increased its LNG imports by 1.4 bcfd, primarily in Spain, Italy, Portugal, France, and Turkey.

In North America, Mexico's LNG imports increased by 17 percent as the country continued to rely on LNG supplies amid declining domestic production and construction delays in infrastructure connecting the Mexican domestic grid to gas pipeline exports from the United States.

 

(Reporting by Scott DiSavino Editing by Marguerita Choy)


Copyright © 2018. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
The US Energy Information Administration (EIA) reported in April that the US set records for natural gas production in 2017.
EWAnalysis
- Energy Web Atlas
Since market reforms first started in 1978, China has shifted from a centrally planned economy to a market-based economy, experiencing rapid economic and social development.
Industry Perspectives
-Eugene Gerden
Russia aims to ally with Qatar in LNG competition with Australia and other LNG-exporting majors over the coming years.


Maximize Profitability with Advanced Analytics at Natural Gas Processing Plants

View On-Demand

Incorporating economic data into process modeling is key to optimizing operations and maximizing profits at gas processing plants. However, maintaining optimal operations are often challenging due to changing market dynamics, contract structures and increasing process flexibility. Today, gas processors are leveraging Predictive Control and First Principles models to accurately determine and control the optimal operating targets in real time based on the most current plant conditions and profitability, optimizing recovery of natural gas liquids. Learn how real-time analytics, combined with decision support tools, empower companies to:
•Improve processing margins by up to 5%
•Maximize NGL production through improved availability and optimized process conditions
•Improve compositional control to operate closer to product specifications

May 22, 2018 10am CDT

View On-Demand

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2018 Gulf Publishing Holdings LLC.