The fourth quarter of 2019 saw a continuation of the trends established in the first nine months of the year, with global production up by 9% compared with Q4 ‘18 and Europe being the destination for most of the extra output. The main source of additional supply during the quarter was the US, as production built up from newly commissioned trains during the year.
For 2019, global production increased by 42.5 mt (13.5%), led by the US, Russia and Australia. However, significant contributions to growth came from some of the more established liquefaction plants as the supply of gas, which had constrained output for many of them, increased. Europe acted as the balancing market for the LNG business, as demand growth slowed in Asia and imports fell by 26% in the Middle East and North Africa (MENA).