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LNG Global Imports Set To Climb
The global liquefied natural gas (LNG) market has been growing in recent years, with more and more countries and businesses turning to this fuel source instead of using alternatives like oil.
Energy Live News recently revealed that global imports of LNG are on course to set a new record this year, with demand for the fuel continuing to increase.
The news provider cited predictions by Bloomberg New Energy Finance, which expects LNG demand to increase to 305 million metric tonnes per annum by the end of 2018. The organisation is predicting something of a stabilisation and plateau between 2019 and 2022, before demand again ramps up.
By 2030, LNG demand is predicted to hit 490 million metric tonnes per annum, with environmental measures in China, a drop in domestic gas production in Europe and a rise in power generation within south and south-east Asia cited as the main factors driving the increase.
Global head of LNG analysis Ashish Sethia told the news provider that the reason for the slow down between 2019 and 2022 will be “the commissioning of new gas pipelines from Russia [which] absorbs some of China’s demand and as more nuclear power comes online in Japan”.
Last month, the Port of Rotterdam reported that it had seen an increase in the level of LNG throughput, which was largely attributed to the introduction of the Wes Amelie, the first-ever container ship to be converted to LNG propulsion.
This vessel regularly bunkers in the port, with the organisation adding that it expects to see LNG demand increase in the coming years as more such ships come into service.
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