Wood Mackenzie: LNG demand doubling over the next 20 years

By Bojan Lepic After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, this year and 2021 had at least as much capacity lined up for final approval – instead, there’s a famine, Wood Mackenzie said.

Mackenzie said last week that developers, cash-strapped by the collapse in oil
and gas prices, have pushed back on capital-intensive pre-FID LNG projects.

But there
are three other factors which pushed pack investments – the first is the
outlook for LNG demand. WoodMac anticipates LNG demand doubling over the next
20 years, driven by Asia’s economic growth and increasing penetration –
particularly where policy supports gas over coal.

The company
stated that

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