The demand for energy is increasing globally with the steady rise in population, industrialization and urbanization.
The change in demand and supply of the LNG industry is rapidly reforming the trading scenario.
The leading oil companies including Exxon Mobil, Shell, and BP have increased their gas output in the past few years to match the growing LNG demand.
LNG producers are expanding their capacities to meet the growing demand, while ensuring the cost of production are kept as low as possible.
How does the LNG industry look at present and by 2020?
The LNG industry is currently witnessing rapid developments. Qatar currently holds the highest LNG liquefaction capacity in the world. In due time, the US, Canada and Australia are expected to become leading LNG liquefaction centers.
By 2020, the global LNG industry is expected to become more receptive to LNG pricing and there will be several new LNG exporters, including the US, Canada, Colombia, Tanzania, Cyprus, Mozambique, just to name a few.