Demand for Liquified Natural Gas (LNG) is expected to reach 400 million tonnes by 2020.
That’s according to a new report which claims lower than expected demand growth rates and the start of new projects are forcing the shift in global liquefied natural gas market (LNG).
It expects global LNG demand to increase from 238.2 million tonnes to 400.6 million tonnes by the end of the decade – a growth of 162.4 million tonnes.
The report ‘The Global LNG Market Trends, Outlook, Strategies and Growth Potential to 2020’ predicts the industry to shift in the buyers’ favour from 2017.
The research shows insights into the future of the LNG industry by looking at various factors, including: reliable supply demand outlook, impact of oil price decline and technology insights.