Advocacy

Gas prices plummeted to 10-year lows in 2019, reshaping global energy economics. The NBP in Europe hit $3.15/MMBtu in July, while Asian spot prices fell to $4.10/MMBtu in August. The U.S. saw Henry Hub prices average $2.53/MMBtu, with Waha prices dipping to a stark $0.90/MMBtu. These sharp declines underscored market oversupply, changing trade dynamics, and intensifying competition among exporters.

In 2019, the world saw a significant boost in LNG receiving capacity — 23.4 MTPA was added, including 6 new terminals and 3 expansions. Growth was led by emerging markets such as Bangladesh, Brazil, China, India, and Jamaica, with 3 new FSRUs deployed. Global regasification capacity reached 821 MTPA, with an additional 120.4 MTPA under construction as of early 2020. India and Thailand also expanded their existing infrastructure — signaling LNG’s growing role in energy diversification.

Global liquefaction capacity reached 430.5 MTPA in 2019, with 42.5 MTPA added that year — an 11% growth over 2018. Australia overtook Qatar, becoming the top liquefaction market at 87.6 MTPA. Key additions came from Australia, Russia, USA, and Argentina. With 70.8 MTPA of new FIDs, global capacity was forecasted to hit 454.8 MTPA by the end of 2020. An enormous 907.4 MTPA remains in pre-FID stage, led by projects in the USA, Canada, Australia, Qatar, and Russia.