Name: LNG: 2022 in review
Brand: Wood Mackenzie
SKU: 149729
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Author: Wood Mackenzie

Insight 20 January 2023

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
            <p class="mega push--bottom store_landing__body">
                <div>
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.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        2022 was a year that changed LNG markets forever
    </li>

<li class="list__item-toggle font-semibold">
        Asia LNG demand: price sensitive buyers reduce purchases
    </li>

<li class="list__item-toggle">
        <a href="#60614e1f-2442-4090-bb49-b0079fc5df99" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="60614e1f-2442-4090-bb49-b0079fc5df99" aria-expanded="false">
            LNG prices hit record highs in 2022
        </a>
        <ul id="60614e1f-2442-4090-bb49-b0079fc5df99" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Pinch point: constraints in the European gas network
    </li>
    <li class="push-quarter--bottom">
        Europe’s increased appetite for LNG impacts Asia
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#73029aec-9e8e-4322-be3e-0be67a78cb77" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="73029aec-9e8e-4322-be3e-0be67a78cb77" aria-expanded="false">
            Annual LNG supply growth was limited
        </a>
        <ul id="73029aec-9e8e-4322-be3e-0be67a78cb77" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Over 40% of Europe's total LNG was imported from the US
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#74fc37f1-40dc-4193-992c-2e0d88317831" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="74fc37f1-40dc-4193-992c-2e0d88317831" aria-expanded="false">
            85 Mt of new LNG contracts were signed
        </a>
        <ul id="74fc37f1-40dc-4193-992c-2e0d88317831" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        US LNG momentum
    </li>
    <li class="push-quarter--bottom">
        Portfolio players and traders dominate the market
    </li>
    <li class="push-quarter--bottom">
        Energy security of supply vs. energy transition objectives
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Inflation and supply chain issues are hitting LNG projects
    </li>

<li class="list__item-toggle font-semibold">
        Long-term costs
    </li>

<li class="list__item-toggle">
        <a href="#d04bb01b-9646-468f-b97f-923bebdb5fac" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="d04bb01b-9646-468f-b97f-923bebdb5fac" aria-expanded="false">
            LNG charter rate roller-coaster
        </a>
        <ul id="d04bb01b-9646-468f-b97f-923bebdb5fac" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Ultra-quick commissioning of new capacity
    </li>
    <li class="push-quarter--bottom">
        Uncertain operational model and allocation procedures
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Europe has pulled FSRUs away from Asia
    </li>

<li class="list__item-toggle font-semibold">
        Corporate strategies diverged
    </li>

</ul>

</div>
                <div class="col small-12 large-4 push--bottom">

<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Historic LNG and gas prices: 2020 - 2022</li><li class="list__item push-quarter--bottom">Global LNG imports by region - 2021 vs. 2022</li><li class="list__item push-quarter--bottom">European LNG imports by month - 2021 vs. 2022</li>
     </ul>
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            View more tables and charts in this report
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        <ul class="list list--bullets panel-toggle" id="fda7b28466644fd397d63b3ee54e5a91">
            <li class="list__item push-quarter--bottom">Asian LNG imports year-on-year change by market</li><li class="list__item push-quarter--bottom">Global LNG exports year-on-year change by region</li><li class="list__item push-quarter--bottom">European LNG imports by source market</li><li class="list__item push-quarter--bottom">Historic orders for LNG carriers by shipyard location</li><li class="list__item push-quarter--bottom">Orderbook annual delivery profile by shipyard</li><li class="list__item push-quarter--bottom">US LNG cargoes transiting the Panama Canal by month - 2022 vs. 2021</li><li class="list__item push-quarter--bottom">Historic spot LNG charter rates</li><li class="list__item push-quarter--bottom">New regas capacity in Northern Europe (mmtpa)</li><li class="list__item push-quarter--bottom">Regas projects commissioned in 2022</li>
                <li>1 more item(s)...</li>
        </ul>
        
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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
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<p class="font-regular" >2022 in review - datafile.xlsx</p>
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<p class="font-regular" >LNG: 2022 in review</p>
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