ExxonMobil: global LNG trade to jump 2.5 times by 2040

Global LNG trade is predicted to grow more than 2.5 times from 2015 to 2040, ExxonMobil said in its 2017 Outlook for Energy. 

Global gas demand is projected to grow by about 45 percent during the same period.

Demand is expected to grow in all major sectors with the majority coming from the power generation. Asia Pacific will contribute to the majority of the 45 percent growth as its demand doubles by 2040.

With the demand growth, LNG exports are expected to diversify. Europe and Asia Pacific are expected to account for about 90 percent of global imports as production decline in Europe is offset by the increase in LNG imports.

Natural gas production in North America will continue its growth, with the region becoming the largest LNG exporter.

LNG World News Staff