{"id":4259,"date":"2019-09-29T19:35:57","date_gmt":"2019-09-29T19:35:57","guid":{"rendered":"http:\/\/euromenaenergy.com\/?p=4259"},"modified":"2019-09-29T19:35:57","modified_gmt":"2019-09-29T19:35:57","slug":"lng-investments-hit-record-50bn-in-2019-iea-chief","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=4259","title":{"rendered":"LNG investments hit record $50bn in 2019: IEA chief"},"content":{"rendered":"
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Reuters Tokyo<\/p>\n<\/div>\n

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Record investments of $50bn have turned 2019 into a banner year for liquefied natural gas (LNG), with Canada and the United States being the main drivers, the chief of the International Energy Agency (IEA) said yesterday.
\nThe industrial sector is Asia\u2019s biggest driver of LNG growth, with China expected to overtake Japan as the world\u2019s top importer of the fuel in five years, said Fatih Birol, the agency\u2019s executive director.
\n\u201cThis year, 2019 already broke the highest amount of (final investment decisions) for the first time ever, $50bn,\u201d he told the annual LNG Producer-Consumer conference in Tokyo.
\nMore than 170bn cubic metres (bcm) of natural gas liquefaction capacity is due to take a final investment decision this year, a record far surpassing the previous high in 2005 of 70 bcm, according to the IEA.
\nThe recent boost in contracting activity and project sanctioning follows the growing adoption of the equity offtake marketing structure, where companies have access to LNG volumes according to their equity stake, reducing the need for long-term sale and purchase agreements, the agency said in a report released this month.
\n\u201cThe biggest growth is coming from China,\u201d Birol added. \u201cIn the next five years, about one-third of global LNG demand will come from China alone.\u201d
\nWhile LNG imports by Japan, the world\u2019s top buyer of the super-chilled fuel, and Korea are expected to stay important, slowing growth there means the biggest contribution will be from China, Birol said.
\nOther Asian nations, such as Bangladesh, India, Pakistan, Thailand are also importing more LNG. European LNG imports will also increase as domestic gas production declines and nations diversify supply, Birol said.
\nFor instance, European natural gas production has halved over the past decade, increasing the call on other sources of flexibility, IEA said in the report this month.
\nThe United States will make up two-thirds of global growth in LNG exports, which could turn pricing dynamics in Asia towards more gas-linked, rather than oil-linked LNG contracts, he said.
\nAbout 70% of LNG contracts are oil-indexed, with the rest geared to gas.
\nThat could soon change to a 50-50 pricing mix, Birol added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reuters Tokyo Record investments of $50bn have turned 2019 into a banner year for liquefied natural gas (LNG), with Canada and the United States being the main drivers, the chief of the…<\/p>\n","protected":false},"author":1,"featured_media":4270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[46,48,57,68,76,77,82,86,87,90,96,99,103,107,109,111,113,137,139,146,148,160,174,183,184,201,202,209,222,230,232,233,244,246,249,256,262,263,267,277,279,280,285,288],"class_list":["post-4259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lng","tag-aramco","tag-athens","tag-baroudi","tag-carbon","tag-climate","tag-climate-change","tag-co2","tag-cyprus","tag-decarbonising","tag-democracy","tag-doha","tag-eastmed","tag-egypt","tag-embargo","tag-emissions","tag-energy","tag-energy-peace","tag-gas","tag-gazprom","tag-greece","tag-greenenergy","tag-international-maritime-disputes","tag-lebanon","tag-maritime-boundaries-east-mediterranean","tag-maritime-disputes","tag-offshore","tag-oil","tag-opec","tag-pollution","tag-poverty-alleviation","tag-putin","tag-qatar","tag-rosneft","tag-roudi","tag-russia","tag-saudi","tag-solar","tag-solar-power","tag-straddling-hydrocarbons-reserves","tag-total","tag-trump","tag-turkey","tag-unclos","tag-usa"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/4259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4259"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/4259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/4270"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}