Global gas market review: LNG trade continues its upward trajectory

This report offers a thorough review and analysis of the major trends and developments on the global gas market last year, along with short-term prospects. The global LNG trade continued its upward trajectory, with the Philippines and Viet Nam joining the club of LNG importers and the commissioning of new LNG regasification capacity reaching a record high, a trend that may achieve another milestone in 2024. Moreover, there has been a significant increase in long-term LNG contracting driven by buyers’ pursuit to ensure security of gas supply, with some contracts extending even beyond 2050. Source: GECF