Lng news

Here are the latest news updates on LNG (Liquefied Natural Gas):

Global LNG Market

• The global LNG market is expected to grow at a CAGR of 4.5% from 2023 to 2030, driven by increasing demand for cleaner energy sources and declining costs of production. (Source: Grand View Research)
• The global LNG trade reached a record high of 364 million tonnes in 2022, with Asia accounting for 70% of the total demand. (Source: International Energy Agency)

LNG Projects and Developments

• The US Federal Energy Regulatory Commission (FERC) has approved the construction of the Jordan Cove LNG export terminal in Oregon, which will have a capacity of 1.1 billion cubic feet per day. (Source: Reuters)
• The Australian government has given the green light to the Barossa LNG project, which will have a capacity of 9.5 million tonnes per annum and is expected to start production in 2026. (Source: The Australian)
• The Indian government has approved the construction of the RRVN LNG terminal in Andhra Pradesh, which will have a capacity of 5 million tonnes per annum. (Source: The Hindu)

LNG Prices and Trade

• LNG prices have fallen to their lowest level in two years due to increased supply and declining demand. (Source: Bloomberg)
• The US has become a net exporter of LNG for the first time in 2022, with exports reaching 9.4 billion cubic feet per day. (Source: Energy Information Administration)
• The European Union has agreed to reduce its dependence on Russian gas by increasing imports of LNG from the US and other countries. (Source: Euractiv)

LNG and Climate Change

• The International Energy Agency (IEA) has warned that the growth of LNG demand could undermine efforts to reduce greenhouse gas emissions, as the fuel is often used to power fossil fuel-based power plants. (Source: The Guardian)
• The US Environmental Protection Agency (EPA) has proposed new regulations to reduce methane emissions from LNG facilities, which are a potent greenhouse gas. (Source: The Hill)