Liquefied Natural Gas Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Liquefied Natural Gas Prices December 2023
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Product
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Category | Region | Price |
|---|---|---|---|
| Liquefied Natural Gas | Others | India | 589 USD/MT |
| Liquefied Natural Gas | Others | Germany | 654 USD/MT |
In the fourth quarter of 2023, the price of liquefied natural gas in India reached 589 USD/MT by December.
Similarly, in Germany, the liquefied natural gas prices hit 654 USD/MT during the same month in 2023.
Liquefied Natural Gas Price Trend, Market Analysis, and News
IMARC's latest publication, “Liquefied Natural Gas Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the liquefied natural gas market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of liquefied natural gas at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed liquefied natural gas price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting liquefied natural gas pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.
Liquefied Natural Gas Market Analysis
The global liquefied natural gas market size reached US$ 75.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 133.07 Billion, at a projected CAGR of 6.50% during 2023-2032.
- The growing energy demand at the global level, coupled with increasing population and industrialization, acts as the major drivers for the LNG market.
- The increasing environment-related regulations and policies to decrease carbon emissions accelerate the demand for cleaner energy. Therefore, policymakers and industries are inclining toward LNG due to its lower carbon footprint compared to coal and oil.
- Numerous innovations in the technology of LNG production, transportation, and storage processes make them more effective and cost-efficient, hence decreasing operational costs and increasing the scope of LNG projects across the globe.
- Countries are diversifying their sources of energy supply and ensuring energy security by shifting to LNG imports. Compared to pipelined natural gas, LNG is flexible and reliable, thus minimizing the risks connected with geopolitical tensions.
- The rising demand for LPG in emerging economies, particularly in Asia Pacific, due to the increasing energy consumption is favoring the market. This makes LNG an effective solution for energy consumption across the region due to its scalability and relatively cleaner profile.
- Growing investments in LNG infrastructure is providing an impetus to the market. Improved infrastructure enhances the efficiency and capacity of supply chains, which supports market expansion.
- Global oil price volatility makes LNG a more competitively priced alternative in numerous markets which is propelling the market. The relative affordability of LNG compared to other fossil fuels is attracting new consumers and industries.
- The escalating demand for LNG to make dynamic and responsive deliveries across the globe as it offers flexibility in the supply chain. LNG has a distinctive feature of being transportable over long distances by ships which further supports its demand.
- The bilateral and multilateral energy agreements and partnerships among key players are also driving growth in the LNG market. Such partnerships enhance the stability of the markets and offer new opportunities for LNG trade and investment.
- The global decarbonization initiatives of the energy sector act as a driving force behind the adoption of LNG as a transition fuel. Moreover, numerous countries are adopting LNG as a bridge to the total transition to renewable sources of energy to reduce their carbon footprint.
Liquefied Natural Gas News
The report covers the latest developments, updates, and trends impacting the price of liquefied natural gas, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the liquefied natural gas price trend.
Latest developments in the liquefied natural gas industry:
- June 19, 2024: Shell Eastern Trading Pte. Singapore, a wholly owned subsidiary of Shell plc, announced that they have closed an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to purchase 100% of the shares in Pavilion Energy Pte. Ltd. Pavilion Energy Pte. Ltd. conducts an LNG trading business and develops additional downstream energy businesses, including gas infrastructure for liquefied natural gas (LNG).
- January 17, 2024: Mexico Pacific Ltd. signed a third offtake agreement with Exxon Mobil Corp., securing another 1.2 MMtpa from its proposed Mexico LNG project. This latest deal for the Saguaro Energia project on Mexico's west coast, which involves the project's third train, brings ExxonMobil's total offtake commitment to 3.2 MMtpa.
Product Description
Liquefied natural gas, popularly referred to as LNG is a natural gas that is cooled to a temperature of about -162 degrees Celsius (-260 degrees Fahrenheit), changing it into its liquid state. Through this process, the volume of gas is reduced by about 600 times: hence, it is much easier and more efficient in storage and transit. It is a mixture of small quantities of methane, ethane, propane, and other hydrocarbons.
Besides, it is colorless, odorless, nontoxic, and noncorrosive and is much a safer form of energy as compared to all other types of fossil fuels. This includes dust, acid gases, helium, water, and heavy hydrocarbons. Furthermore, LNG is well-suited for transportation via sea and road using specially designed cryogenic sea vessels and road tankers, thereby facilitating shipment over long distances where pipeline infrastructure is not feasible.
Upon reaching its destination, LNG is regasified into pipeline gas, reverting to traditional natural gas for residential, commercial, and industrial applications. Moreover, the inherent versatility and efficiency of LNG position it as a crucial propellant within the global energy landscape. It holds a unique status as a transition fuel, facilitating the shift towards cleaner energy sources.
Regional Coverage
The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the liquefied natural gas price trend.
Global Liquefied Natural Gas Price
The report offers a holistic view of the global liquefied natural gas pricing trends in the form of liquefied natural gas price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of liquefied natural gas, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed liquefied natural gas demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Liquefied Natural Gas Price
European liquefied natural gas prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
Detailed price information for liquefied natural gas can also be provided for an extensive list of European countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Liquefied Natural Gas Price
The analysis of liquefied natural gas prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.
Specific liquefied natural gas historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Liquefied Natural Gas Price
The report explores the liquefied natural gas pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
Region-wise data and information on specific countries within these regions can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Liquefied Natural Gas Price
The liquefied natural gas pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This liquefied natural gas price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Liquefied Natural Gas Price
The analysis of liquefied natural gas prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.
This comprehensive review can be extended to include specific countries within Latin America.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Liquefied Natural Gas |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Liquefied Natural Gas Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
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| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of liquefied natural gas pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
- The study examines factors affecting liquefied natural gas price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The liquefied natural gas price charts ensure our clients remain at the forefront of the industry.
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