China to Enlarge Its Share in the Global LNG Market

According to RNCOS new research report “Global LNG Market Analysis”, the global Liquefied Natural Gas (LNG) market has been growing at a fast pace for the past few years on the back of factors, such as government support, environmental concerns, and arrival of new technologies. In 2009, the total proven natural gas reserves were 187.49 Trillion Cubic Meter globally, mostly located around the Middle East and Europe. Given the significant development taking place in the Asia-pacific region, the reserves are likely to augment in future, due to high demand. The total demand for LNG is likely to reach to the mark of 272 Million Metric Tons by 2035.

RNCOS report has found that China has become one of the top consumers of natural gas in the Asia-Pacific region and can overtake Japan by 2015. In 2009, natural gas consumption in the country rose to 88.7 Billion Cubic Meter, up from 81.3 Billion Cubic Meter in 2008. China imported 7.63 Billion Cubic Meters of LNG in 2009 and major proportion was imported from countries, such as Australia, Malaysia, Indonesia, and Qatar. There are many under-construction LNG receiving terminals with good storage capacity that will further boost the market potential.

The report “Global LNG Market Analysis”, covers all the key regions of the world, such as Africa, Europe, Americas, Asia-Pacific, and Middle East. It provides an in-depth analysis of the current market trends and their impact on industry development in key countries of the world. Description of key topics, such as LNG spot market and LNG Regasification has also been covered in the report along with proper statistics. The report illustrates about the current scenario in the global LNG market and provides data regarding demand, production, consumption, terminals, trade etc.

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Source: RNCOS, February 8, 2011;