Global LNG Market to Grow at CAGR 5% Until 2025: TechSci Research Report
NEW YORK, November 7, 2016 /PRNewswire/ --
Growing concerns towards deteriorating air quality, coupled with rising demand from power, industrial, residential and transportation sectors to drive global LNG market through 2025
According to TechSci Research report, "Global LNG Market Demand & Supply Analysis, By Region, By Country-wise LNG Terminal Capacity, Competition Forecast and Opportunities, 2011-2025", global market for liquefied natural gas (LNG) is projected to grow at a CAGR of more than 5% during 2016 - 2025, due to capacity expansions in power, industrial, residential and transportation sectors. A major share in demand for LNG across the globe emanates from Asia-Pacific, with Japan, South Korea, China, India and Taiwan accounting for around 69% of total LNG supply in Asia-Pacific in 2015. Over the last five years, LNG prices have fallen to below USD3 per MMBtu, which has resulted in renegotiation of long-term LNG supply contracts. However, global average LNG import prices are expected to moderately grow during 2016-2025, due to oversupply conditions and liquefication capacity additions, especially in Australia, US and Papua New Guinea. Consequently, an increasing number of LNG importers, traders, and aggregators have started to opt for spot price mechanism instead of long-term agreements on account of price arbitrage.
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Browse 107 market data Tables and 184 Figures spread through 402 Pages and an in-depth TOC on
"Global LNG Market"
As of 2015, there were 33 LNG importing and 17 exporting countries, globally. Total global regasification capacity of LNG reached around 777 MTPA in 2015, and around 71.92 MTPA of regasification capacity was under construction in the same year. Europe and Middle East & Africa are expected to witness maximum regasification capacity additions during 2016 - 2025. An increasing number of projects related to power, city gas distribution and petrochemical sectors are anticipated to come up over the next 5-10 years across the globe, which is expected to positively influence global LNG market through 2025.
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"Growing demand for LNG and opening of wider Panama Canal has considerably reduced lead time for supply of LNG from the US to many countries in Asia-Pacific and South America, thereby driving global LNG supply. Growing adoption of natural gas in various downstream industries due to concerns associated with poor air quality, coupled with booming downstream infrastructural developments, increasing capital investments in oil & gas exploration and production activities, and favorable policy environment across majority of the leading economies, is projected to boost demand for LNG across the globe in the coming decade.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global LNG Market Demand & Supply Analysis, By Region, By Country-wise LNG Terminal Capacity, Competition Forecast and Opportunities, 2011-2025" has evaluated the future growth potential of global liquefied natural gas market and provides statistics and information on market structure, size, share and future growth of global LNG market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities in the global LNG market.
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