The global LNG carrier orderbook is on course to meet LNG production volumes in 2022, according to a new outlook published by Wells Fargo Securities. The LNG orderbook accounted for 23% of the global order book as of last month and the 57 LNG carrier orders placed this year mark a 3-year high. Wells Fargo Securities observed that there are 4 LNG production projects that are effectively done and 4 more that are edging closer to completion, around the globe. These 8 global projects could cumulatively add 110mt per year in the market, which would more than satisfy projected LNG demand in 2025. LNG incremental production is set to grow from 36.6mt per year to 76mt per year in 2022, as new LNG production projects launch operations. That translates to about 120-130 LNG carriers that may be needed to handle 2022 volumes, according to WFS, who suggest that they are almost satisfied by the current orderbook.
Source:Lloyd’s List
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