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The United States and China will become the world's largest exporters and importers of liquefied natural gas (LNG) in five years.
Peter Fraser, head of the natural gas, coal and power markets at IEA, said Tuesday that U.S. LNG exports are expected to rise to more than 100 billion cubic meters by 2024, surpassing current market leaders Australia and Qatar.
He spoke at an event sponsored by the Center for Global Energy Policy, School of International Public Affairs, Columbia University.
Meanwhile, China's LNG imports are expected to rise to more than 100 billion cubic meters by 2024, surpassing Japan, currently the largest importer.
According to the IEA, global LNG demand is expected to increase by about 4% annually until 2024. Fraser said that in order to meet demand, developers made a final investment decision in 2018 to increase new export capacity by about 29 billion cubic metres, and export capacity growth has doubled to 58 billion cubic metres so far in 2019.


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