LNG market grew by 29Mt, says Shell

THE global LNG market has continued to defy expectations, growing by 29 million tonnes in 2017, according to Shell's latest LNG Outlook.

  • Staff Reporter
  • 02 March 2018
  • 04:57
  • News
LNG market grew by 29Mt, says Shell

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Based on current demand projections, Shell sees potential for a supply shortage developing in the mid-2020s, unless new LNG production project commitments are made soon. 
 
The Shell LNG Outlook report, now in its second year, highlights key trends in 2017 and focuses on future global supply and demand.
 
It finds that, since the start of the century, the number of countries importing LNG has quadrupled, while the number of countries supplying LNG has almost doubled. LNG trade increased from 100Mt in 2000 to nearly 300Mt in 2017.
 
"The mismatch in requirements between buyers and suppliers is growing. Most suppliers still seek long-term LNG sales to secure financing," the Shell report notes.
 
"But LNG buyers increasingly want shorter, smaller and more flexible contracts so they can better compete in their own downstream power and gas markets. This mismatch needs to be resolved to enable LNG project developers to make final investment decisions that are needed to ensure there is enough future supply of this cleaner-burning fuel for the world economy."
 
Overnight, the gold price was fixed at $1311.65.
 
The WTI crude oil price was slightly down overnight at $61.34 per barrel.
 
In softer commodities, cocoa increased $30 per tonne or 1.35% to $2270/t yesterday from the $2240 in the previous trading session, tradingeconomics.com reported. Historically, cocoa reached an all-time high of $4361.58/t in July of 1977 and a record low of $211/t in July of 1965.
 
Coffee increased 0.95c per pound or 0.78% to 122c/lb yesterday from 121.5c/lb in the previous trading session, tradingeconomics.com reported. Historically, coffee reached an all-time high of 339.86c/lb in April of 1977 and a record low of 42.50c/lb in October of 2001.
 
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