"IHS Markit Data : Six New Records Set by LNG Industry in 2019"

From LNG Global Jan 21, 2020:

2019 was a record-shattering year for the LNG industry according to a new report by IHS Markit. The report, 2019: A Year of Records for LNG, notes the records are indicative of a sustained growth trend. Global LNG capacity expected to increase by more than 50%—from 283 million metric tonne per annum (MMtpa) in 2015 to 437 MMtpa in 2020 according to the report.

“The ongoing pace of new investment is especially noteworthy considering a market context of weak global prices,” said Michael Stoppard, chief strategist, global gas at IHS Markit. “Not only did LNG grow at an unprecedented rate in 2019, but the industry also laid the foundations for continued strong growth into the middle of the decade.”

Key records set by the LNG industry in 2019 were:

 

Record levels of new investment. Final investment decisions (FIDs) for liquefaction projects were made at an extraordinary level of 70.4 million tons per year (MMtpa)—40% higher than the previous all-time high reached in 2005 (50.4 MMtpa). The United States, Russia, and Mozambique each set individual highs for levels of annual FIDs.

*****

New global supply leader. Australia surpassed Qatar as the top LNG exporter for 2019, reaching 80.2 MMt relative to 72.5 MMt in 2018. Australia is expected to extend its lead in 2020 and retain its position as top exporter until 2023 when the United States is projected to become the largest LNG producer.

Record European imports. Europe set records for imports each single month as well as for the year as whole. Annual net imports totaled 87.2 MM tons which exceeded the previous record of 65.5 MM tons set in 2011. Imports are expected to remain strong in 2020 due to additional new liquefaction supply coming to market. New supply in 2020 is expected to outpace Asian demand growth and therefore maintain sales into Europe....

....MORE