European LNG demand trends unclear amid continued global economic turmoil

摘要

The last couple of years have proven to be dramatic for the global LNG industry, matching few of the industry's expectations of only a few years ago. From early 2007 until the end of 2008, the global LNG market has been supply constrained with strong Asian demand attracting an increasing number of cargoes from the Atlantic Basin. As the global economic situation continues to deteriorate, the outlook for the LNG industry, as is the case for many other resource-based industries, is uncertain. Imports into Europe have come mainly from within the Atlantic Basin, although its share of total supply has declined to 86.5% In 2008 at 38.8 million tonnes from 88% in 2006 at 37.1 million tonnes. Of the main suppliers, Algeria is the largest accounting for more than 40% of total Atlantic Basin supply to Europe, although Algerian exports have fallen to 15.8-15.9 million tonnes in the last 2 years from 16.6 million tonnes in 2006.