Outlook 2025: Timing is everything for LNG
The disconnect between export terminals coming online and vessels being available to transport cargoes means shipping rates are not looking so good, at least in the short term
At this point, all reservations about the medium-to-long-term outlook for growth in the LNG industry seem to be put to rest. New export terminals are ramping up operations in the US, Canada and Africa, with more not far behind in Qatar, Mexico and a smattering of other locations. With just the projects under construction, we expect the industry to grow by almost 50% by the end of the decade relative to 2023 levels. If that were not enough, the pipeline of new projects likely to make FIDs in the next 24 months should keep the cargo count growth at a frothy pace well into the next decade. All the pricing thus far remains strong given the solid elasticity of demand, particularly in Asia.
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
