LNG liquefaction investment may hav LNG liquefaction investment may have scaled up to $23bn in 2021: GECFe scaled up to $23bn in 2021: GECF

LNG liquefaction investment may hav LNG liquefaction investment may have scaled up to $23bn in 2021: GECFe scaled up to $23bn in 2021: GECF

* Qatar's $29bn FID on North Field expansion is a game-changer, noted GECF Global Gas Outlook 2050



LNG liquefaction investment that dropped in 2020 may have scaled up to more than $23bn in 2021 led by Qatar, US and Russia, according to Gas Exporting Countries Forum (GECF).

Qatar’s project, with a final investment decision (FID) of $29bn taken in February 2021 on North East Field expansion, which will add 33mn tonnes per year (mtpy) to the currently existing 77mtpy, is a game-changer, noted the GECF Global Gas Outlook 2050.

Asia Pacific, the main destination of the world’s LNG at present and by 2050, will represent the largest transformational challenge for the currently fragmented natural gas market. Asia Pacific with 70% share of LNG trade in 2020 to make up for even more impressive over 80% by 2050.

The top four largest LNG importers emerged in Asia Pacific and will remain so in 2050 with India becoming second largest LNG importer. China became the top global LNG importer in 2021 overtaking Japan as the leader in the consumption of liquefied gas, followed by South Korea, and India.

By 2050, the majority of incremental growth in natural gas imports will be undoubtedly attributed to Asia Pacific