This year’s edition reflects that “2024 was a year of flat growth, but there were deep shifts across global LNG trade, supply dynamics, and infrastructure expansion.”

Notable Highlights:
➡️ Flat Growth, shifting flows: global LNG trade rose just +1% to 406 MT, but this masks significant regional shifts in both demand and supply patterns.
➡️ Spot & short-term fell to 146 MT, making up 36% of total imports (vs 39% in 2023), as market players turned back to long-term supply amid volatility.
➡️ LNG imports to Europe plunged 19%, the sharpest on record, with other regions—especially Asia—compensating for the decline.
➡️ Asia drives growth: China and India showed strong buying momentum, positioning Asia as the core source of incremental LNG demand.
➡️ Switch in exports from the Atlantic basin that showed stability as volumes from Egypt and Algeria fell, while the US, Norway, and Russia stepped in.
➡️ Additional supply came from Pacific Basin exporters like Indonesia, Malaysia, and Mozambique, while the UAE contributed from the Middle East.
➡️ Global liquefaction capacity accelerated in 2024, reaching 492 MTPA, with additions rising to 10.5 MTPA compared to only 4 MTPA in 2023. Four Final Investment Decisions (FIDs), totaling 14 MTPA, were taken during the year.
➡️ LNG carrier fleet grew to 831 ships, with 66 new vessels delivered during the year.
➡️ Global regasification capacity reached 1,188 MTPA in 2024, supported by 12 new terminals or expansions. The annual increase was +49 MTPA, marking a deceleration.

View full report >>HERE.

This whitepaper, written by Pat Roberts offers a spotlight on the global LNG business through 2030 and how the World LNG Summit & Awards 2024 will be covering the current outlooks for the global markets over the next ten years, along with the changes and innovations we see.

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The whitepaper, written by Pat Roberts, Conference Chair, Managing Director, LNG-Worldwide Ltd., offers insights into the various “internal” and “external” factors affecting the direction of global LNG prices.

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Global LNG markets are likely to stay delicately balanced in the coming months, with prices remaining highly sensitive to supply disruption news or the expectation of weather-related demand increases. Market developments and inventory data in October suggest there will be limited spot cargo demand in North Asia this winter, assuming normal weather. Europe, meanwhile, is sitting on ample storage but nervousness in the market continues from potential escalation of the Israel-Hamas war and its impact on Egyptian LNG supply.

In this exclusive report from BloombergNEF, in collaboration with the World LNG Summit & Awards, we look at five key things to watch in the LNG market for winter 2023-24.

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