• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 2 hours Why Wind is pitiful for most regions on earth
  • 2 hours Is OilPrice a cover for Green Propganda
  • 1 hour During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 3 hours Sources confirm Trump to sign two new Executive orders.
  • 16 hours In a Nutshell...
  • 2 days Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 2 days Happy 4th of July!
  • 2 days Putin Paid Militants to Kill US Troops
  • 2 days Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 3 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 3 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 8 hours Coronavirus hype biggest political hoax in history
  • 2 days Apology Accepted!
Moscow Backs Russia's Fastest Moving Energy Company

Moscow Backs Russia's Fastest Moving Energy Company

The strategic importance of Novatek’s…

Natural Gas Price Plunge Could Soon Lead To Shut-Ins

Natural Gas Price Plunge Could Soon Lead To Shut-Ins

U.S. natural gas drillers are…

U.S. LNG Industry Needs Prices To Double

U.S. LNG Industry Needs Prices To Double

Large U.S. LNG projects are…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

IEA: U.S. Will Be The World’s Top LNG Exporter In 2024

The United States will surpass current market leaders Australia and Qatar to become the world’s biggest liquefied natural gas (LNG) exporter in 2024, a high-ranking official at the International Energy Agency (IEA) said on Tuesday.

The U.S. exports of LNG are expected to exceed 100 billion cubic meters (bcm) in 2024, beating Qatar and Australia to the top spot, IEA’s Head of the Gas, Coal and Power Markets Division, Peter Fraser, said at a presentation sponsored by Columbia University’s School of International and Public Affairs Centre on Global Energy Policy.

While the U.S. will be the biggest LNG exporter within five years, China will become the top LNG importer, outpacing Japan, according to IEA’s Fraser.

Thanks to its massive coal-to-natural gas switch, China became the world’s second-biggest LNG importer in 2017, surpassing South Korea and second only to Japan. Demand for natural gas in China will continue to grow in the coming years. 

According to the IEA, China is set to surpass Japan as well, with Beijing’s imports expected to surge to more than 100 bcm in 2024.

IEA’s Gas 2019 report from last month says that global gas demand over the next five years is expected to be driven by Asia Pacific, forecast to account for nearly 60 percent of the total consumption increase to 2024.

“China will be the main driver for gas demand growth, though slower than in the recent past as economic growth slows, but still accounting for about 40% of total gas demand increase to 2024,” the IEA said.

The Paris-based agency expects the LNG market to “undergo profound changes over the next five years.”

China and India are set to emerge as major buyers of LNG, alongside Europe which is expected to increase imports, the agency says.

“On the supply side, the emergence of a trio of leading exporters results in Australia overpassing Qatar in 2022, and being overpassed by the United States by 2024,” the IEA noted.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News