Key findings from the review were:
- Global LNG production reached 250 million tonnes in 2015
- China’s LNG demand declined 2 per cent in 2015 following years of double digit growth
- Australia’s key CSG LNG projects added 18.5 MMt/a of nameplate capacity
- New entrants Jordan, Pakistan and Egypt imported 5.8 MMt in 2015
- Asia spot prices reached a low of US$6.90/MMbtu
- Atlantic to Pacific LNG trade flows fell by 16 per cent, from 96 MMt/a to 82 MMt/a
- Weak demand translated into lower shipping rates of US$30,000/d – the lowest since 2010
- The potential to optimise US LNG flows saw 19 new LNG vessels ordered in 2015
- Shell’s proposed acquisition of BG would create the largest LNG marketer – supplying 15 per cent of global demand.
Global LNG production remained high throughout 2015, with Wood Mackenzie estimating volumes reached 250 MMt/a.