LNG poised to consolidate its place in global gas trade

Despite marginal gas production growth for natural gas in 2002, LNG's share of the world's trade in natural gas set records. Click here to enlarge imageLast year, marketed world gas production edged up only 1% to 2,580 billion cu m (bcm; 1 bcm = 37.3 bcf and 0.73 million tonnes of LNG), reflecting the continued economic slowdown in many parts of the world. Exports and imports of gas rose 2.6% to 697 bcm, while LNG shipments increased 4.3% to a record 430 bcm (Fig. 1).In the first half of 2002, demand for LNG was stagnant but rose more than 8% in the second half. Spot and short-term LNG sales accounted for a record 9% of the total. LNG now accounts for 27.4% of internationally tra...

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