From both the supply and demand viewpoints, 2018 was a major year for the LNG industry, with overall trading growing by 8.3% – the third-largest annual increase ever. But what made the year stand out was the biggest surge in spot and short-term trading since 2011. The surge is set to continue this year and next, pushing the industry ever closer to commoditisation. Less obvious – because it was obscured by China’s rampant demand growth – was the first fall in the volume of LNG taken by emerging markets in at least a decade.
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