IGU-世界液化天然气报告2021（英文）-2021.6-73页_67mb

Better Energy, Better World - Summary

Core Content

This report, titled "Better Energy, Better World" and sponsored by KOGAS, provides an in-depth analysis of the global LNG and gas markets, highlighting their resilience and adaptability in the face of the ongoing challenges posed by the COVID-19 pandemic. It outlines the state of the LNG industry, including trade, liquefaction, regasification, and shipping, while also emphasizing the role of LNG in the energy transition and sustainable development.

Main Points

• LNG Trade:

  • Global LNG trade reached 356.1 MT in 2020, showing a small increase of 1.4 MT compared to 2019.
  • Despite the pandemic's impact, LNG trade continued to grow, driven mainly by increased exports from the USA and Australia.
  • Asia Pacific and Asia accounted for over 70% of global LNG imports in 2020, with the largest growth in import volumes.
  • The trade was affected by lockdowns and economic slowdowns, leading to cancellations of cargoes and a shift in demand.

• Liquefaction:

  • Global liquefaction capacity reached 452.9 MTPA in 2020, with new capacity additions mainly from the United States.
  • Several liquefaction projects were delayed due to the economic and operational challenges of the pandemic.
  • The only liquefaction project sanctioned in 2020 was the 3.25 MTPA Energía Costa Azul facility in Mexico.
  • Projects like Yamal LNG T4, Sengkang LNG T1, and others were delayed to 2021, with some being postponed further.

• Regasification:

  • Global regasification capacity increased to 850.1 MTPA as of February 2021, with 19 MTPA added in 2020.
  • Four new regasification terminals and four expansion projects were completed in 2020.
  • The Asia-Pacific region saw strong demand growth, with China, Chinese Taipei, India, and Myanmar adding significant regasification capacity.
  • Several regasification projects, including those in India and China, were delayed due to financial constraints, supply chain issues, and economic uncertainty.
  • Floating and offshore regasification capacity grew by 5.6 MTPA in 2020, with new terminals in Brazil, Croatia, and others.

• LNG Shipping:

  • The active LNG fleet reached 572 vessels at the end of 2020, including 37 FSRUs and 4 FSUs.
  • The fleet grew by 7%, with 35 new vessels added, most of which were equipped with membrane containment systems and X-DF propulsion.
  • LNG voyages increased by only 1% due to reduced demand, but charter rates fluctuated significantly, peaking at the end of the year due to colder-than-normal temperatures in the Northern Hemisphere.
  • The use of vessels as floating storage increased due to low freight rates and excess supply, with newer vessels featuring lower boil-off gas rates facilitating this practice.

• Energy Transition:

  • LNG and natural gas are positioned as key components in the transition to a cleaner, more sustainable energy future.
  • They serve as a substitute for coal, oil, and conventional biomass, helping to reduce emissions and improve air quality.
  • The industry is prepared to integrate more renewable gas, hydrogen, and carbon capture and storage (CCS) in the coming decade.

Key Information

• LNG Trade Growth: Despite the pandemic, LNG trade continued to grow, with Asia Pacific and Asia importing the most volumes.
• Liquefaction Delays: The pandemic caused delays in the start-up of several liquefaction projects, including those in Russia, Indonesia, and Malaysia.
• Regasification Expansion: The Asia-Pacific region saw strong growth in regasification capacity, with new terminals and expansions in China, India, and other countries.
• Floating Regasification: Floating and offshore regasification capacity increased significantly, with new terminals in Brazil and Croatia.
• Shipping Market: The LNG shipping market experienced a drop in demand and charter rates, but rebounded towards the end of the year due to colder weather and tighter freight conditions.
• Environmental Impact: The gas industry is committed to reducing methane emissions and supporting the energy transition, aligning with the Paris Agreement and Sustainable Development Goals.

Conclusion

The global LNG industry demonstrated resilience and adaptability in 2020, navigating the challenges of the pandemic while continuing to grow and support the transition to cleaner energy. With a focus on sustainability, innovation, and infrastructure development, the industry is well-positioned to meet the world's future energy needs.