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The Increasing Role of China and India in the Global LNG Market
The Increasing Role of China and India in the Global LNG Market
China and India to Witness Rapid Growth in LNG Demand
Hyderabad,
AP,
India
(prbd.net)
26/02/2010
"China and India to Witness Rapid Growth in LNG Demand"
The growing natural gas consumption in China and India will lead to the increased dependence of these countries on LNG imports, which are expected to touch 50 million tons per annum (MMTPA) by 2015.
By 2015, China and India as a combined LNG importing entity will stand third in terms of contracted LNG supplies, with Japan and the US ranking first and second respectively. The contracted LNG supplies to China and India are expected to increase from 15.3 MMTPA in 2009 to 44.7 MMTPA in 2015.
The figure below details the position of China-India in terms of contracted LNG supplies in 2009 and 2015.
China has been aggressively signing long-term LNG contracts to secure steady natural gas supplies for its growing domestic demand. As of 2009, the country had 26.5 MMTPA (1,290.6 Bcf) of secured LNG supplies through long-term LNG contracts. In addition, the two Chinese national oil companies (CNOOC and Petrochina) have recently signed a memorandum of understanding with Qatargas to increase LNG supplies by 5 MMTPA. There are also talks about further increasing the supplies by 2 MMTPA. The agreements, if signed, will increase the contracted capacity of China by 285% from 8.7 MMTPA (423.7Bcf) in 2009 to 33.5 MMTPA (1,631.5 Bcf) in 2015.
The development of China and India as major LNG importers and Australia as a major LNG exporter will lead to increased LNG trade movements in the Asia Pacific. As of 2009, based on their long-term LNG supply commitments, the top five LNG exporters in the world are Qatar, Indonesia, Malaysia, Nigeria and Australia, in that order. By 2015, although these countries will continue to dominate LNG exports globally, Australia is expected to become the second largest LNG exporter in the world.
Currently, the top five global LNG importers are Japan, the US, Spain, the Republic of Korea and France. By 2015, although Japan and the US will continue to dominate, China, through its recently signed long-term LNG contracts, will move up to the third spot. India too will become an important LNG importer, standing at the seventh position worldwide.
GlobalData’s report, “The Increasing Role of China and India in the Global LNG Market” provides analysis on the growing importance of China and India in the global LNG industry. The report provides an overview of the global liquefied natural gas (LNG) market, detailing the growth in liquefaction and regasification capacities, major players, key trends, contracted LNG supplies and trade movements. The report details the position of China and India in the global LNG industry in terms of regasification capacity, contracted capacity, imports and upcoming LNG terminals. It provides in-depth analysis of the regasification industry in China and India in terms of future growth, demand and planned terminals. The report also provides detailed analysis of the long-term LNG supply purchase contracts signed by China and India to secure their future supplies.
Visit our report store: http://www.global-market-research-data.com/
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