Commodity Market Report
Global gas: LNG Supply report (July 2021)
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
After a tumultuous 2020, the price recovery has accelerated, pointing towards stronger for longer LNG prices. This is a consequence of both supply and demand factors: LNG supply growth will be slower and Asian LNG demand has increased. This reduces the availability of LNG to Europe and means we are forecasting a structurally tighter market through to 2025 than previously anticipated. The impact of the coronavirus pandemic was well documented in our previous (H1/H2 2020) outlooks. However, additional project delays and recent FIDs mean that more than 57 mmtpa of under construction LNG capacity expected online between 2026-28, making market space for new LNG supply extremely limited. But with less LNG supply capacity expected online before 2026, an opportunity has presented itself for developers of pre-FID US LNG. However, it remains difficult to pick winners from the “shovel-ready” greenfield projects and the brownfield expansions.
Table of contents
- Near term forecast: 2021-2025
- Delays to under construction projects and recent FIDs
-
FID Expectations 2021-25
- Pre-FID window of opportunity for North American LNG
- RoW FID expectations
Tables and charts
This report includes the following images and tables:
- LNG supply capacity growth by country
- LNG supply-demand gap
- Commercial Progress at pre-FID North America LNG projects
- Global LNG supply capacity
- FID Outlook to 2025 by country
- Pre-FID Supply Forecast by Country
- Long-term LNG supply forecast by country (Line)
- Long-term LNG supply forecast by country (Stacked)
- Russian and African long-term LNG Supply - net change vs. H2 2020
What's included
This report contains:
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