Full Title: US LNG exports driven by demand
Author(s): Workng Group I, Intergovernmental Panel on Climate Change
Publisher(s): Ernst & Young
Publication Date: June 1, 2013
Full Text: Download Resource
Description (excerpt):
Global liquefied natural gas (LNG) demand has risen an estimated 7.6% per year since 2000 — a rate almost three times faster than global natural gas demand, which is estimated to have grown by about 2.7% per year over the same period.1 More than half of total global LNG demand in 2012 can be attributed to three Asian countries — Japan, South Korea and Taiwan — which have been and are expected to remain at the core of the global LNG demand market. Between 2013 and 2020, Moody’s Investors Service estimates that Japan will remain the largest importer of LNG and will account for roughly one third of the global LNG market (with South Korea holding steady as the second- largest importer).2 Additionally, China, India, the Middle East, Europe and South America are becoming players in the LNG demand market as well; however, these demand centers tend to have more available competitive energy options, including coal, oil and other sources of natural gas, and will generally be more price sensitive and less likely to willingly pay supply security premiums than the other markets.