Insight
LNG: 2022 in review
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
LNG was thrust into the mainstream during 2022, grabbing headlines and the attention of some of the world’s most senior figures. It became more valuable than ever; prices sky-rocketed and cargoes exchanged hands for more than US$250M. Demand was significantly stronger in Europe, but flat-lined in Asia. Fluctuations in global LNG production moved markets – every available drop was significant. The world’s media, politicians, economists, and general public all paid close attention to the LNG industry during 2022. In this insight, we recap on the year’s most significant developments.
Table of contents
- 2022 was a year that changed LNG markets forever
- Asia LNG demand: price sensitive buyers reduce purchases
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LNG prices hit record highs in 2022
- Pinch point: constraints in the European gas network
- Europe’s increased appetite for LNG impacts Asia
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Annual LNG supply growth was limited
- Over 40% of Europe's total LNG was imported from the US
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85 Mt of new LNG contracts were signed
- US LNG momentum
- Portfolio players and traders dominate the market
- Energy security of supply vs. energy transition objectives
- Inflation and supply chain issues are hitting LNG projects
- Long-term costs
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LNG charter rate roller-coaster
- Ultra-quick commissioning of new capacity
- Uncertain operational model and allocation procedures
- Europe has pulled FSRUs away from Asia
- Corporate strategies diverged
Tables and charts
This report includes the following images and tables:
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Historic LNG and gas prices: 2020 - 2022Global LNG imports by region - 2021 vs. 2022European LNG imports by month - 2021 vs. 2022
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Asian LNG imports year-on-year change by marketGlobal LNG exports year-on-year change by regionEuropean LNG imports by source marketHistoric orders for LNG carriers by shipyard locationOrderbook annual delivery profile by shipyardUS LNG cargoes transiting the Panama Canal by month - 2022 vs. 2021Historic spot LNG charter ratesNew regas capacity in Northern Europe (mmtpa)Regas projects commissioned in 2022
- 1 more item(s)...
What's included
This report contains:
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