DUBLIN--(BUSINESS WIRE)--The "LNG Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The global LNG market was estimated to be USD 41.21 billion in 2019, and is expected to reach USD 61.85 billion by 2026, at a CAGR of 6.92% during 2021-2026.

Companies Mentioned

• Bechtel Corporation
• Chiyoda Corporation
• Engie SA
• ENN Energy Holdings Ltd
• Fluor Corporation
• Gasum AS
• Gazpromneft Marine Bunker LLC
• JGC Holdings Corporation
• Royal Dutch Shell PLC
• Technip FMC PLC

Key Market Trends

Liquefaction Sector to Dominate the Market

• At the end of 2020, the total global liquefaction capacity reached around 454 MTPA in 22 countries, increasing by approximately 24 MTPA from 2019. In 2020, five new large-scale liquefaction trains, all located in the United States, exported their first LNG volumes 2020: Cameron LNG trains 2 and 3, Corpus Christi LNG Train 3, and Freeport LNG trains 2 and 3. Only one FID was taken in 2020, on the 3.25 MTPA Energia Costa Azul LNG project in Mexico, and about 108 MTPA of new liquefaction capacity was under construction globally at the end of 2020.
• As of 2020, the countries with the largest LNG operational liquefaction capacity were Australia, followed by Qatar, United States, Malaysia, Russia, Indonesia, and Algeria. Australia overtook Qatar as the market with the highest liquefaction capacity in 2019 and was also the largest market in 2020. Australia added 12.5 MTPA in 2019 due to the commissioning of Ichthys LNG T1-T2 and Prelude LNG. However, Qatar is expected to regain its position as the largest market in terms of liquefaction capacity by 2026-2027. In February 2021 Qatar reached FID on the North Field East Project (NFE), comprising of four mega LNG trains of 8 MTPA each, at an estimated cost of USD 28.75 billion. The 33 MTPA project is expected to start production in Q4 2025 and will raise Qatar's LNG production to approximately 110 MTPA by late-2026 or early 2027.
• Further, significant capacity expansion in the United States was witnessed with 23.35 MTPA of liquefaction capacity added in 2019 and around 24 MTPA in 2020. This helped the United States to become the world's third-largest LNG producer, overtaking Malaysia and Russia. As of 2020, the top three LNG exporting markets (Australia, Qatar, and the United States) represented close to 50% of global liquefaction capacity.
• Global liquefaction capacity is expected to almost triple if all proposed projects are realized compared to 2019. The majority of the proposed capacity additions come from North America (599.6 MTPA), with 350.5 MTPA located in the United States, 221.8 MTPA in Canada, and 27.4 MTPA in Mexico, followed by Africa (93.3 MTPA), Asia Pacific (72.4 MTPA) and the Middle East (93.3 MTPA).

Asia-Pacific to Dominate the Market

• Asia continues to be the leading importing region with a 71% share of global LNG imports, up from 69% in 2019. Asian LNG imports grew by 3.4% in 2020, reaching 254.4 MT. Imports rose in all Asian countries except Japan, Pakistan, Indonesia, Malaysia, and Singapore. Japan experienced the greatest decrease in LNG imports (-2.4 MT) which represented a fall of 3.2%. This happened notably due to lower LNG imports during the second quarter of 2020 following the lockdown measures which were implemented within the country and their downward impact on electricity consumption.
• However, LNG imports showed a progressive recovery from June onwards with a spike in December 2020 due to the exceptionally cold weather. Despite this, Japan remains the leading LNG importing country in the world with 74.4 MT or a 20.9% market share.
• China, being the second largest LNG importer in Asia-Pacific, experienced the greatest growth in terms of imported volumes (+7.2 MT or +11.7%), which was below its 2019 growth of 14%. The main surge of LNG imports took place during the second quarter of 2020, when LNG imports were favored over pipeline imports, because of lower spot LNG prices. China remains the second largest LNG importer globally, with 68.9 MT or a 19.3% market share up by almost 2% from its 2019 market share (17.4%).

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2026

4.3 Recent Trends and Developments

4.4 Government Policies and Regulations

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.6 Supply Chain Analysis

4.7 Industry Attractiveness - Porter's Five Forces Analysis

4.8 Impact of COVID-19 on the Global LNG Market

5 MARKET SEGMENTATION

5.1 LNG Infrastructure

5.2 LNG Trade

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/mmz0b4

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