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LNG’s share in global natural gas trade rises

/ Saturday, 29 October 2022 /

According to BP’s review of world energy statistics 2020, trade in liquefied natural gas (LNG) in the global energy market has increased by 94.3% to 485.1 billion cubic meters in the past decade.

Liquefied natural gas (LNG) trade is an alternative to natural gas pipeline trade, which has witnessed a huge and rapid growth in the past 10 years.

Therefore, in 2009, the trade volume of natural gas in the form of liquefied natural gas was 249.7 billion cubic meters, which increased to 302.4 billion cubic meters in 2010 and 328.3 billion cubic meters in 2011.

Rapid construction of LNG terminals and lower prices have increased the share of LNG trade.

In 2013, LNG trading volume was 326.8 billion cubic meters. It was 333.6 billion cubic meters in 2014, 337.1 billion cubic meters in 2015, 358.3 billion cubic meters in 2016, and 393.3 billion cubic meters in 2017. In 2018, China sold 430.6 billion cubic meters of liquefied natural gas.

Last year, the volume of LNG trade was 485.1 billion cubic meters, and that of pipeline natural gas was about 801.5 billion cubic meters. Pipeline natural gas accounts for 62% of global natural gas, while LNG accounts for 38% of global natural gas in 2019.

In the world’s 485.1 billion cubic meters of LNG exports, Qatar ranked first with 107.1 billion cubic meters of exports, and Japan ranked first with 105.5 billion cubic meters of imports.

Russia is the country with the largest sales of natural gas through pipelines, with 217.2 billion cubic meters. Norway followed with 109.1 billion cubic meters, followed by the United States with 75.4 billion cubic meters.

Germany purchased the largest amount of pipeline natural gas, reaching 109.6 billion cubic meters. The United States ranked second with 73.3 billion cubic meters, followed by Italy with 54.1 billion cubic meters.

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