Liquefied Natural Gas Market Supply and Demand Analysis - Global Outlook and Forecast 2024-2030

MARKET OVERVIEW:

Global liquefied natural gas (LNG) market was valued at USD 138.84 billion in 2023 and is projected to reach USD 174.35 billion by 2030, growing at a CAGR of 3.3% during the forecast period. Asia-Pacific dominates the market with about 55% share, followed by Europe and North America with over 35% combined market share.

MARKET INSIGHT & GROWTH DRIVERS:

2023 CAGR 2030

The market growth is driven by increasing gold mining activities, particularly in Asia-Pacific and Africa, where cyanide leaching remains the dominant extraction method. However, environmental concerns and stringent regulations pose challenges to market expansion.

MARKET SEGMENTATION:

MARKET DYNAMICS

Growing Demand for Clean Energy to Fuel Global LNG Market Expansion

Global push towards cleaner energy sources is accelerating LNG adoption as nations transition away from coal and oil. As the cleanest fossil fuel, LNG emits 50-60% less CO2 than coal when used for power generation, making it crucial for meeting international climate commitments.

MARKET OPPORTUNITIES

Many developing nations in Asia and Africa represent untapped opportunities for LNG market expansion. As these countries experience economic growth and urbanization, their energy demand is increasingat3-5%annually,outpacing globalaverages.Limiteddomesticgas production and inadequate pipeline infrastructure make LNG the most viable solution to meet this growing need

COMPANY MISSION

The global LNG trade landscape is undergoing substantial realignment due to geopolitical developments. Since 2022, Europe's LNG imports increased by over 60% as the region diversified from pipeline gas, creating new arbitrage opportunities. Simultaneously, Asian buyers are securing long-term contracts with US exporters, accounting for nearly 70% ofnewUSLNGcontractssignedin202

REGIONAL MARKET OUTLOOK

North America

LNG market in North America is experiencing robust growth due to the U.S. position as the world's largest LNG exporter in 2023, shipping approximately 88.9 million metric tons. This expansion is driven by abundant shale gas reserves and significant investments in liquefaction terminals along the Gulf Coast..

Europe

Europe's LNG demand surged by 60% in 2022 following the Russia-Ukraine conflict, with imports reaching 121 million metric tons as countries rapidly diversified supplies. Germany accelerated LNG terminal construction, commissioning five floating storage and regasification units (FSRUs) within months. The EU's REPowerEU plan mandates reducing Russian gas imports,

COMPETITIVE LANDSCAPE

• Royal Dutch Shell PLC (Netherlands/UK)

• Exxon Mobil Corporation (U.S.)

• BP plc (UK)

• TotalEnergies SE (France)

These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics.

• Chevron Corporation (U.S.)

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