Insights: How North America is redefining the global LNG landscape

As we navigate through 2024, we're beginning to see some fascinating shifts in global LNG markets. A modest economic recovery in China and changing demand patterns in Europe are creating a rebalancing effect.

New suppliers, particularly from North America and Qatar, promise to reshape the global LNG landscape in the coming years.

In our latest Insights, Energy Writer Tom Young says North America expects to have more than 190 mtpa of capacity online by 2030 - around 30% of the total global capacity.

?? Read in full here: LNG demand forecasts are great news for North American suppliers.

?? The Canadian advantage

Did you know Canada is the world's fifth-largest producer of natural gas but does not currently export large quantities of LNG to either Asia or Europe from its shores?

This could all change as Canada could soon become a major player on the global LNG front to capitalize on demand from Asian countries.

Several projects on Canada's west coast are underway in various stages. In fact, the first cargo from the Shell-led LNG Canada in British Columbia may head to markets earlier than expected as reported in our sister publication, DOB Energy.

Why Canada? Faster routes, lower costs

• Shipping routes from projects on Canada's west coast are about 50% shorter than projects on the US Gulf Coast. West coast LNG projects are about 10 shipping days from Asia. LNG shipments for the U.S. Gulf Coast to Asia take about 20 days and use the Panama Canal, which adds to costs.
• Shipping natural gas from the west coast of Canada to Japan costs between US$1-$1.09/MMbtu. Shipping the same amount from the Gulf of Mexico costs about US$2.40-$2.45/MMbtu. (Source: Canadian Energy Centre)

?? Read in full: Canada prepares to profit from LNG supply advantages

?? U.S. producers expect gas output to rise later in 2024

Producers such as Antero Resources, Chesapeake Energy CNX, and EQT could potentially boost output later in 2024, expecting a market rebound fuelled by strong power sector demand and growth in LNG.

?? Read our latest analysis here: https://lnkd.in/gPSh2sK4

?? Next month: Our analysts look at Q2 deal trends and explore how the U.S. and Canadian upstream sectors have been reset by 18 months of significant mergers.

Evaluate Energy Insights is a must-read for anyone looking to stay on top of the latest data-based trends and developments.

???? Let us know in the comments below what you would like us to cover in our next newsletter.