Name: LNG: 2016 in review
Brand: Wood Mackenzie
SKU: 60766
Price: 1050 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Insight 26 January 2017

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Report summary

In 2016, a wall of LNG came online – 8 trains, with capacity of 34 mmtpa were commissioned – in Australia, the US and Malaysia. However, growth in actual supply was more modest, with supply increasing 5.5% to 264 mmtpa. Supply increases, created a more bearish price environment, with Asia spot LNG hovering around $4.5/mmbtu at times during the first half of 2016

Executive summary
Supply continued to ramp up, but project deferrals mounted in 2016
- 8 trains - 34 mmtpa in capacity – came online, primarily from the US and Australia
- 2016 was the slowest year for FIDs since 2008, but some projects gained momentum
- Pre-FID capacity deferrals or cancellations mounted
- M&A was focused on low cost plays
The LNG industry looks to FSRU’s to absorb supply overhang
- Colombia and Jamaica joined the LNG club in 2016
- The race is on for first operational FSRU in West Africa
- Kuwait outlined plans for the first onshore regas terminal in the Middle East
- New terminals operational in France, Malta, Poland and Turkey
- FSRUs expanded market access to Asia's emerging LNG markets
Trade: China and emerging markets surged; Americas LNG trade shifted as the US exported LNG
- The Middle East, emerging Asia + China offset declines in NE Asia
- New US LNG supply takes its time to cross the Pacific
- Hydro pushes out LNG in Brazil, but Brazil's Northeast will be a bright spot for LNG
- Europe: plug pulled on global LNG sink
Shipping: fleet grows faster than trade despite delayed deliveries

Tables and charts

This report includes the following images and tables:

LNG: 2016 in review: Image 1LNG supply by country in 2016LNG imports by country in 2016

Combined FSRU imports v selected countriesFSRU imports by country, 2016LNG prices – Asia contract, Japan LNG spot, NBPLNG freight rates vs orders vs deliveriesLNG vessel deliveries vs fleet growthAustralian LNG exportsNE Asia LNG importsMiddle East and Indian sub-continent LNG importsSabine Pass LNG exports by destination