LNG in 2011 – A year of growth and change

2011 was a year of both growth, with activity increasing by around 11%, well above the long-term average of 7.7%/annum, and changing trading patterns as LNG cargoes were diverted to Asia in the aftermath of the tragic earthquake and tsunami in Japan on March 11, which triggered the Fukushima nuclear crisis. It also saw the commissioning of the last of Qatar’s six mega-trains bringing to an end, at least for the next few years, the expansion of the country’s LNG capacity. Australia established itself as the next source of supply growth with Final Investment Decisions (FIDs) on four new projects, including the world’s first floating LNG unit. The USA emerged as a potential major growth area for supply in the medium term while discoveries offshore Mozambique and Tanzania have brought East Africa into the spotlight as a new supply source towards the end of the current decade. LNG Business Review examines the LNG business in 2011 focusing on these five countries – Japan, Qatar, Australia, the USA and Mozambique – which in differing ways had a major impact on the global LNG business during the year.