The prompt LNG market will be tight in 2014 due to uncertainty over the gradual nuclear restarts in Japan and South Korea. Asia gas-fired plants are operating at full capacity, capping additional LNG imports, but new liquefaction capacity is only set to come on line late in the year. With new projects getting underway in Australia, and existing projects set to reach their construction peaks, this is a critical year. Russia’s two state energy companies are also intensifying efforts to expand their LNG positions in Asia, and an Indian consortium looks likely to take a 9% equity stake in Russia’s Yamal LNG project. Elsewhere, growing natural demand across the Middle East has advanced several LNG import projects from a wider network of suppliers. While the US looks set to make more LNG exports: the Department of Energy recently secured three project export licenses to supply non-free-trade agreement countries, with more projects awaiting consideration.
The ICIS free market analysis outlines all the factors already impacting the global LNG market, including the push for lower prices in the Asian market and increasing competition. It will also consider some of the factors that will influence markets over the year, including strong demand from South America and Northern Europe, and the growing requirement for natural gas across the Middle East.
Ludovic studied Economics at the University of Bristol before completing a postgraduate course in journalism at the University of London. He went on to work in the commercial world of gas with GDF SUEZ, before moving to ICIS as a Senior Reporter for the LNG team, where he specialised in LNG shipping. Ludovic is now deputy editor of the ICIS Global LNG Markets report.
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