On June 27, 2024, Lloyd’s Register (LR), highly attentive to the Chinese market, chose to host its second Global LNG Forum at the Shangri-La Hotel in Pudong, Shanghai. This conference attracted industry experts and leaders from around the world to discuss the latest developments and future prospects of the LNG industry.

 

Andy McKeran, Chief Commercial Officer, Lloyd’s Register shared the LR's view on the general LNG market. "With an average annual increase of 5%, LNG demand (supply capacity) could reach almost 700 mpta in less than 10 years, with currently almost 200 mtpa of liquefaction capacity under construction, 100 mtpa planned to be built while total number of projects at any stage including planning amount to a total of more than 1,000mtpa. "

 

Bo Gao，the broker of Fearnleys LNG，shared his own view on the fate of the LNG in the next decade.

 

He said that this is my personal view，the LNG will continue for sure. Also，it' s about around 1,000 mtpa coming in a few years which is very promising.

 

"Taking into consideration of FID project，we think at least around 640 mtpa to be coming online by 2030. So that' s a huge amount of LNG to be shipped out. And also Chinese buyers signed a large of SPA. So we think no matter the supply demand change or the shipping demand，it is very promising and we think it will be continuing to grow in the next 10-15years until 2040 or afterwards."

 

 

As of today，we have about 650 LNG carriers are in the shipping markets，and we expect to get another 350 LNG new buildings to be delivered in the next few years. Overall，we expect to have around 1,000 LNG carrier by 2030.

 

LR expected that at least 650 million mtpa is on the production.

 

"Considering the old fleet，the steam turbines to be retired or put in use into other loading, projects or even into the yards, we think at least around 70-80 energy vessels to be needed in the next few years annually." He told Xinde Marine News.

 

Mr Bo also mentioned that the vessel demand is a very conservative number for the FID project. But if take the 1,000 mtpa into consideration, there will be more than 80 vessels per year，basically above the yard.

by Xinde Marine News Pang Kai

Please Contact Us at：

media@xindemarine.com