Natural gas remains the second-fastest growing energy source after renewables through to 2040, with global consumption seen rising 45 percent and LNG infrastructure investment amounting to $35 billion per annum on average, according to the latest World Energy Outlook from the International Energy Agency.
International natural gas markets, business models and pricing arrangements are all in a state of transition. Thus far, increasing LNG supply is being absorbed by robust demand, particularly in Asia.
Australia has overtaken Qatar as the world’s largest exporter of liquefied natural gas for the first time in November, according to data, though will not be the largest on an annual basis until the end of 2019.
Natural gas has attracted wide attention as a clean energy source with reduced environmental impact in combustion compared to other fossil energy sources like oil or coal.
There is a significant diversity in the gas economies in Latin America and the Caribbean and a dynamic interaction between LNG imports and other factors, including changes in domestic gas production, gas pipeline imports, hydro power generation levels, seasonal gas demand, and other factors.