Far East
News
January 08, 2015
EDINBURGH, SINGAPORE and HOUSTON -- The LNG industry celebrated its 50th birthday in 2014 but while the industry may have matured, Wood Mackenzie finds in its annual review that it's still not short of surprises. Giles Farrer, Wood Mackenzie's Principal Analyst - Global LNG, explains, "Production was up 5 MMtpa to 246 MMtpa and overall trade was boosted by higher levels of re-exports. But the big surprise was that Asian LNG demand was much lower than expected. Demand in emerging markets, like China, failed to grow to the extent anticipated and demand in the established South Korean market fell considerably."
