Global LNG trade volume continues to rise
According to data released by the International Liquefied Natural Gas Importers Group (GIIGNL) a few days ago, by the end of 2017, there were 19 liquefied natural gas (LNG) export countries and 40 LNG import countries in the world, and LNG trade volume was 38.2 billion cubic feet per day. The increase of 10% in the previous year was the highest annual increase.
On the supply side, the growth in LNG supply in 2017 mainly came from the United States and Australia, which totaled 2.7 billion cubic feet per day; Angola, Nigeria, Malaysia, Algeria, Russia and Brunei added a total of 1.4 billion cubic feet per day; Qatar, Norway, Supply in Indonesia, the United Arab Emirates and Thailand has decreased by 600 million cubic feet per day.
On the import side, Asian LNG import growth continues to lead the world with an increase of 2.6 billion cubic feet per day in 2017, which represents 74% of the total global growth. Japan is still the world's largest importer of LNG, importing 11 billion cubic feet per day. China's LNG imports in 2017 increased by 1.5 billion cubic feet per day, which is the largest increase in the country, surpassing South Korea to become the second largest LNG importer in the world. LNG imports in Europe increased by 1.5 billion cubic feet per day in 2017, mainly from Spain, Italy, Bulgaria, France and Turkey. The United Kingdom is one of the two countries in the region with reduced LNG imports, mainly due to the decrease in winter heating demand and the increase in wind power consumption resulting in a decrease in natural gas consumption.
According to GIIGNL, since 2013, the United States and Canada have increased their total LNG production capacity by 9.67 billion cubic feet per day, and it is expected to increase by 8.3 billion cubic feet per day by 2020.
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