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Sep 21, 2020 · The liquefied natural gas (LNG) industry is experiencing low prices and oversupply. Even before the COVID-19 pandemic, the LNG market was set for oversupply in 2020 and 2021 as new projects continued to grow capacity well beyond steady demand growth.
The global liquefied natural gas market size was valued at USD 122.60 billion in 2024 and is expected to grow at a CAGR of 11.6% from 2025 to 2030. The growing demand for electric power through clean energy sources is likely to propel market growth over the coming years.
- The global LNG market size was estimated at USD 109.48 billion in 2021 and is expected to reach USD 112.0 billion in 2022. Read More
- The global LNG market is expected to witness a compound annual growth rate of 8.1% from 2022 to 2030 to reach USD 208.85 billion by 2030. Read More
- Asia Pacific LNG market conquered the global demand accounting for the majority of the revenue share in 2021 and is projected to be the fastest-gro...
- Some key players operating in the LNG market include TBritish Petroleum (BP) p.l.c., Chevron Corporation, China Petroleum & Chemical Corporation, E...
- The global LNG market is expected to register substantial growth owing to the rapid growth of electric power through clean energy sources and incre...
LNG imports have fallen 20%. A planned increase in nuclear and renewables generation—spurred by climate and energy policies, along with years of high LNG prices— will l. ts fell almost 5% last year. Long-term climate and energy plans in South Korea envision LNG imports falling 20% through the mid-2030s, as solar, wind an.
Jun 26, 2024 · The global LNG market now connects 20 exporting with 51 importing markets, while supply is currently the primary limiting factor on growth. After two years of severe turbulence, the LNG market has a newfound but fragile equilibrium, given lack of spare supply in the near-term.
Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth.
Jan 24, 2024 · Within that evolving context, this article examines the current state of the global natural gas market and the outlook for demand and supply, with a particular focus on liquefied natural gas (LNG). To view our oil outlook, please visit Global Energy Perspective 2023: Oil outlook .
People also ask
Why is the liquefied natural gas market growing?
What is the global liquefied natural gas market size?
Will global liquefied natural gas supply increase by 2028?
Why is liquefied natural gas (LNG) important?
How will global gas supply and demand affect the LNG market?
Which liquefied natural gas market has the largest revenue share in 2024?
Rapid growth in pipeline infrastructures with favorable government regulations, rising demand for natural gas from several industries, and fluctuation in oil prices are some of the major factors fueling the industry growth.
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