LNG demand growth remains strong with 4% CAGR forecast to 2035.
Market expected to tighten as new supply delayed with projects impacted by COVID-19 pandemic.
Global LNG demand forecast to grow ~3% in 2020, despite COVID. Historically, LNG demand has grown 9% pa since 2015
LNG demand continued to rise in key growth markets: China up ~13% year to date and India up ~22% year to date.
Despite the pandemic, LNG demand in traditional markets of Japan, South Korea and Taiwan remained stable in 2020.
Asian LNG customers confident in the long future for gas demand. Gas is affordable, it improves air quality and offers lower carbon emissions.
Source: Santos
