Insight
LNG: 2022 in review
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
-
LNG prices hit record highs in 2022
- Pinch point: constraints in the European gas network
- Europe’s increased appetite for LNG impacts Asia
-
Annual LNG supply growth was limited
- Over 40% of Europe's total LNG was imported from the US
-
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
-
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 13 images and tables including:
- Historic LNG and gas prices: 2020 - 2022
- Global LNG imports by region - 2021 vs. 2022
- European LNG imports by month - 2021 vs. 2022
- Asian LNG imports year-on-year change by market
- Global LNG exports year-on-year change by region
- European LNG imports by source market
- Historic orders for LNG carriers by shipyard location
- Orderbook annual delivery profile by shipyard
- US LNG cargoes transiting the Panama Canal by month - 2022 vs. 2021
- Historic spot LNG charter rates
- New regas capacity in Northern Europe (mmtpa)
- Regas projects commissioned in 2022
- LNG Annual Contracted Quantity by US Liquefaction Owner
What's included
This report contains:
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