Insight
LNG: 2014 in Review
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Report summary
The LNG industry celebrated its 50th birthday in 2014, but while the industry might have matured, it is still not short of surprises. Asian LNG demand was much lower than expected and LNG prices crashed. The big Final Investment Decision (FID) announcements all came in the second half of the year and were US focussed, with Cameron, Freeport (Trains 1 & 2) and Cove point all sanctioned.
Table of contents
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Executive Summary
- 2014 in numbers
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Supply Infrastructure
- 2014 was the year in which the long awaited wave of new Pacific supply started to arrive
- Three major US LNG projects started construction and several other projects built momentum...
- ...but Canada’s LNG plans progressed more slowly
- There was some progress at other Pacific Basin projects
- ..and substantial LNG related M&A activity in Australasia
- Russia and China signed a major pipe deal
- New potential FLNG projects are emerging in West Africa
- and there was progress and setbacks in both East Africa and the East Med
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Regas Infrastructure
- Four new regas facilities started in North Asia and several new players started building terminals
- Pakistan and the Phillipines are set to become Asia's newest LNG importers...
- ...and several new importers are also emerging in South America
- Supply diversity is driving the European regas build...
- ...while FSRU activity in the Middle East is still busy
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Trade
- New supply from PNG LNG pushed overall production up...
- ...but Asian demand was weaker than expected...
- ...and Atlantic to Pacific trade fell for the second year running
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Shipping
- A record number of new ship orders were placed in 2014...
- ...despite falling charter rates
- DSME was the big winner
Tables and charts
This report includes 10 images and tables including:
- 2014 Exports*
- 2014 Imports**
- LNG Final Investment Decisions (FIDs) by region
- LNG train start ups by country
- New Regas terminals in 2014
- Asian imports year on year change
- European imports year on year change
- Spanish imports, regas usage and re-exports
- LNG ship orders, deliveries and short term charter rates
- 2014 orders by shipbuilder
What's included
This report contains:
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