Lng projects still moving toward oversupply, wood mackenzie says. Elba island lng export coral flng prelude flng tangguh phase 2 freeport train 3 freeport train 2 sabine pass export train 5 cove point export freeport train 1 ichthys corpus christi lng cameron lng export yamal lng contracted supply from liquefaction projects under construction main sources. Shell interpretation of wood mackenzie q4 2016 data. Wood mackenzie, fearnley lng country project name fid startup mtpa algeria gassi touil taken 20 4. Aug 16, 2017 entered into a longterm lng sale and purchase agreement with pt pertamina persero commencing in 2019 to supply up to 1. It represents the european gathering of the lng community and sets the agenda before the main conference kicks off. Global lng outlook emerging market demand growth continues europe to provide swing demand due to market access and flexibility future supply gap. Commodity market report global lng shipping orders and deliveries. The global sweep of covid19 and the resultant fall in oil prices is likely to delay australias next wave of liquefied natural gas lng projects, advisory firm wood mackenzie woodmac said on. Development corporation has engaged wood mackenzie to undertake an analysis of the competitiveness of the alaska lng project the analysis undertaken relies on wood mackenzie.
Information administration eia, bentek, and wood mackenzie, covering nine different scenarios. Wood mackenzie has estimated that a development of scarborough via infrastructure at burrup would be one of the lowest cost prefinal investment decision lng projects in the world. There is reason to believe that recordhigh chinese demand for lng will continue to support the lng market, projects firm wood mackenzie. We are pleased to release this latest version of the lng contract and tender trends report. This greater global production will combine with stable but slowing down demand in asia, the biggest lng market in the. Gas is a key source of energy in europes1 energy supply mix. Changing industry dynamics four years on from cheniere first stating that it would seek to export lng. Whether its celebrating lng cargoes or weathering cyclones, woodside has shared its story with the karratha community for more than 40 years. Its a remarkably resilient community, as is evident every time we face a severe weather event in the pilbara. Wood mackenzie lng tool and exxonmobil analysis see supplemental information. Shell interpretation of wood mackenzie q4 2018 data. Lngc liquefied natural gas carrier, vlec very large ethane carrier, fsru floating storage and regasification unit, rv regasification vessel, flng floating liquefied natural gas,ulcs ultra large container ships 1 including a lngc order conversion into a fsru order 2 subject to agm approval 7. Energy market models at wood mackenzie applications and. Uk shipment of lng demonstrated that large quantities of lng could be transported safely across the ocean, opening the door for what would become the global lng industry.
Investors are urged to consider closely the disclosure in our form 20f, file no 1. Executed midterm lng sale and purchase agreements for up to 16 cargoes from woodsides portfolio for delivery in the period 2017 2019. Lng is the fastest growing gas supply source lng provides new form of energy security unprecedented lng capacity expansion 45% complete global lng market continues to defy expectations 29 mt increase in lng imports in 2017 lng accommodates china growth and seasonal demand spot prices continue to reflect strong demand for lng. In general, the eia reference case has the lowest prices of the four base. Prior to wood mackenzie, saul worked with australias largest oil and gas company, woodside. The opinions, as of this date, are subject to change. Yichen du and sergey paltsev abstract the introduction of liquefied natural gas lng as an option for international trade has created a market for natural gas where global prices may eventually be differentiated by the transportation costs between world regions. Strong producer with highquality resource largest natural gas producer in louisiana over 20 tcf resource to fill our gathering pipeline longterm 7 drilling rigs with bestinclass safety record. Api has requested wood mackenzie to investigate the impact of potential changes to various oil and natural gasrelated policies at both a federal and state level the positive impacts of a series of prodevelopment policies have been evaluated. The greater middle east energy paradox consists of resource abundance and export opportunities on the one hand, and rising domestic demand and lng imports on the other.
The main deliverable is now in a presentation format. Onethird of new lng supply growth already online lng volume set to expand 50% from 2014 to 2020 8 source. Investors are urged to consider closely the disclosure in our form 20f, file no 1 32575. Development corporation has engaged wood mackenzie to undertake an analysis of the competitiveness of the alaska lng project the analysis undertaken relies on wood mackenzies own internal. We analyse and advise on every stage along the value chain from discovery to delivery, and beyond to provide. Wood mackenzie 4q lng tool only includes lng supply existing or under construction global lng demand mmtpa china india japan korea taiwan europe other rest of asia global supply supply opportunity lng market oversupply in midterm supply gap developing around 2025. Shipments of domesticallyproduced lng delivered by country cumulative from february 2016 through february 2019 note. Run monthly simulations for supply, demand, piped, storage and lng infrastructure, contract sales and producer behaviour assumptions with the global gas. Wood mackenzie lng tool, q4 2016 reconciliation action plan approach woodside is demonstrating its commitment to reconciliation outcomes by publishing a multiyear strategy 20162020 reconciliation action plan rap. Energy analysts at wood mackenzie, however, dont share the concern.
China has the largest market for trucked lng in the world, a report from consultant group wood mackenzie found. Europes role in the global lng market, the asian buyers perspective on market changes, the growth of small scale lng, production. Global lng demand growth is forecast to be robust, driven by the. Sep 04, 2015 wood mackenzie s view is that the global lng market does not need all this lng at the pace proposed and, as companies confront this reality, a raft of project postponements will follow, tomnay. Hoegh lng the floating lng services provider first quarter 2012 presentation of financial results. Bmi, wood mackenzie, giignl 1 includes only gas and gascondensate fields and excludes direct holdings by the government 2 offshore transportation includes jvs between iocs and petrovietnam. S the recession in 2009 the large expansion of lng. Lng shortterm trade and price outlook q4 2019 wood mackenzie. Wood mackenzie did not provide a demand or price view as part of the. After all, why would the worlds seventh largest oil producer the united arab emirates 1. The year 2019 has seen asian spot lng prices more than halve to. Our latest quarterly assessment of lng contract and tender trends.
Then came australias recent wave of lng investment. Wood mackenzie is the most comprehensive source of knowledge about the worlds energy and metals industries. Apr 03, 2017 lng output could grow by more than 100 mt by 2020 to more than 360 mt. Prodevelopment policies could increase oil and gas production by 8 mmboed whereas regulatory constraints could. With each new report, youll get access to a full set of data files and a slide deck discussing the. We do not accept any liability for your reliance upon them.
Wood mackenzie 20102011, fge 2011, cera 2011, gdf suez lng 2011 22092011 it is feast or famine in the lng business. With each new report, youll get access to a full set of data files and a slide deck discussing the hottest trends. Lng supply growth backed by committed liquefaction projects australia is the game changer for lng production post 2015 with approximately 50% of new potential liquefaction capacity 17 source. Shell interpretation of ihs lng waterborne trade, liquefaction projects database and wood mackenzie q4 2016 data 265 100 150 200 250 300 350 400 2006 2008 2010 2012 2014 2016 2018 2020 delivered volume. The market for north american lng within the pacific is limited and projects.
Volume and number of cargos are the cumulative totals of each individual country of destination by region starting. Lng contract and tender trends report wood mackenzie. Global lng supplydemand outlook market conditions favorable for buyers the shale gas revolution in the u. There is a widening range of suppliers democratising access to lng supply, not least infrastructure developers in the us. Wood mackenzie demand of top5 lng importing countries 23 of imports grew by 11% in 2017 vs. At nearly 20 million tonnes per annum mmpta of lng it would be largest single project to reach fid, according to wood mackenzie, and take total lng. Download the data files and perform your own analysis, using our interactive tools to filter and cut the data in multiple ways. Woodside has already flagged the scarborough development will likely be. With over 200 attendees, the lng summit is a conference in its own right. Lake charles lng export company llc is a whollyowned subsidiary of energy transfer lp. Overview of global lng markets asia pacific context. They have been arrived at following careful consideration and enquiry but we do not guarantee their fairness, completeness or accuracy.
On liquefied natural gas lng 17 access to gas revisiting the lng industrys big challenge by. Under construction demand supply pacific basin atlantic basin pacific basin atlantic basin intl. The planned turnaround will support continued safe, reliable and efficient production at pluto lng for many years into the future. Wood mackenzie strong producer with highquality resource. That resilience is going to help us get through the challenges posed by the. Gas prices to drop as lng fids hit record figures in 2019, lng world news. The forecasts all follow similar paths of a steady increase in prices, but the growth is obviously higher in some cases than in others. Mar 19, 2020 our latest quarterly assessment of lng contract and tender trends. The european gas market and the outlook for lng demand in europe. In 2019, the global lng market relied heavily on europe to absorb. Woodmac presentation for ncci summer trade seminar. During the half we completed the first major turnaround at pluto lng since the start of operations in 2012. Access to gas revisiting the lng industrys big challenge.
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