{"id":64251,"date":"2024-07-12T09:36:15","date_gmt":"2024-07-12T16:36:15","guid":{"rendered":"https:\/\/energi.media\/?p=64251"},"modified":"2024-07-12T09:36:15","modified_gmt":"2024-07-12T16:36:15","slug":"global-lng-trade-continued-to-grow-in-2023","status":"publish","type":"post","link":"https:\/\/energi.media\/news\/global-lng-trade-continued-to-grow-in-2023\/","title":{"rendered":"Global LNG trade continued to grow in 2023"},"content":{"rendered":"

This article was published by the US Energy Information Administration<\/a> on July 11, 2024.<\/em><\/p>\n

By Victoria Zaretskaya<\/strong><\/em><\/p>\n

Liquefied natural gas (LNG) trade increased 3.1% globally in 2023 to average 52.9 billion cubic feet per day (Bcf\/d), an increase of 1.6 Bcf\/d from 2022, according to a\u00a0recently released report<\/a>\u00a0from the International Group of Liquefied Natural Gas Importers (GIIGNL<\/a>). Expanded export and import capacity and increasing natural gas demand drove the growth in global LNG trade last year.<\/p>\n

\"global
Data source:\u00a0International Group of Liquefied Natural Gas Importers (GIIGNL),\u00a0The LNG Industry\u00a0annual reports (2020\u20132024)<\/em><\/figcaption><\/figure>\n
<\/div>\n
\n

Global LNG export capacity and exports in 2023<\/h2>\n

Data source: <\/strong>International Group of Liquefied Natural Gas Importers (GIIGNL),\u00a0The LNG Industry<\/em>\u00a0annual reports (2020\u20132024)<\/p>\n

\n

LNG\u00a0export capacity<\/a>\u00a0expanded primarily in the United States, Mozambique, Russia, Indonesia, Norway, and Oman. In the United States, Freeport LNG\u00a0returned to service in February 2023<\/a>\u00a0after\u00a0being offline since June 2022<\/a>, and it was operating at full production capacity by April. Developers in both Mozambique and Russia commissioned new projects in 2022\u2014the 0.4-Bcf\/d\u00a0Coral South Floating LNG<\/a>\u00a0in Mozambique and the 0.2-Bcf\/d\u00a0Portovaya LNG<\/a>\u00a0in Russia\u2014and these projects reached full production in 2023. In Indonesia, the\u00a0Tangguh LNG<\/a>\u00a0export facility added a third train. Norway and Oman increased LNG production capacity by optimizing operational efficiency of existing LNG plants.<\/p>\n

In 2023,\u00a0the United States became the world\u2019s largest LNG exporter<\/a>, with exports increasing by 12 per cent compared with 2022. Exports from the three largest global LNG exporters\u2014the United States, Australia, and Qatar\u2014accounted for 60 per cent of all LNG exports in 2023. Algeria\u2019s LNG exports increased 0.4 Bcf\/d as additional natural gas feedstock became available from the newly commissioned production fields. Exports also increased from Norway and Australia mainly due to optimization of the export plants\u2019 operational performance and from Indonesia after a capacity expansion at Tangguh LNG.<\/p>\n

Global LNG import capacity and imports in 2023<\/h2>\n
\"largest
Data source:\u00a0International Group of Liquefied Natural Gas Importers (GIIGNL),\u00a0The LNG Industry\u00a0annual reports (2020\u20132024)<\/em><\/figcaption><\/figure>\n

LNG import capacity<\/a>\u00a0was expanded primarily in Europe and Asia. In Europe, operators placed several new Floating Storage and Regasification Units in service and expanded regasification capacity at some existing terminals. In Asia, new capacity was added primarily in China, India, the Philippines, and Vietnam.<\/p>\n

Asian countries continued to lead the growth in LNG imports globally, with imports increasing by 3.5 per cent (1.2 Bcf\/d) in 2023. LNG imports increased by 12 per cent (1.0 Bcf\/d) in China, the most of any country in the world, making China the world\u2019s largest LNG importer for the second year since 2021<\/a>. LNG imports in India increased by 11 per cent (0.3 Bcf\/d) as new regasification terminals were placed in service and LNG prices declined. Lower LNG prices also contributed to increased imports into Thailand (by 0.4 Bcf\/d), Bangladesh (0.1 Bcf\/d), and Singapore (by 0.1 Bcf\/d).<\/p>\n

LNG imports in Europe increased slightly by 1.4 per cent (0.2 Bcf\/d). Imports into Germany\u2014the newest LNG importer\u2014averaged 0.7 Bcf\/d. Imports also increased to countries that expanded regasification capacity, such as the Netherlands, Italy, and Finland. LNG imports to the United Kingdom, France, and Spain declined by a combined 1.3 Bcf\/d, mainly because natural gas demand in these countries decreased.<\/p>\n

In Latin America, LNG imports increased mainly in Colombia, by 0.1 Bcf\/d. Colombia experienced drought and used LNG for natural gas-fired electric power plants to offset lower hydropower generation. In Brazil, LNG imports declined by 0.2 Bcf\/d because more electricity was generated by hydropower, reducing demand for natural gas-fired electricity generation in 2023. LNG imports into Puerto Rico also increased by 0.1 Bcf\/d.<\/p>\n","protected":false},"excerpt":{"rendered":"

This article was published by the US Energy Information Administration on July 11, 2024. By Victoria Zaretskaya Liquefied natural gas (LNG) trade increased 3.1% globally in 2023 to average 52.9 billion cubic feet per day [Read more]<\/a><\/p>\n<\/div>","protected":false},"author":6,"featured_media":64252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"give_campaign_id":0,"footnotes":""},"categories":[1],"tags":[322,891,41,14,34,50],"class_list":{"0":"post-64251","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-business","9":"tag-eia","10":"tag-energy","11":"tag-featured","12":"tag-natural-gas","13":"tag-united-states"},"acf":[],"yoast_head":"\nLNG trade - Thoughtful Journalism About Energy's Future<\/title>\n<meta name=\"description\" content=\"LNG trade increased 3.1% globally in 2023 to average 52.9 billion cubic feet per day (Bcf\/d), an increase of 1.6 Bcf\/d from 2022\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energi.media\/news\/global-lng-trade-continued-to-grow-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LNG trade - 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