ENTSOG TYNDP 2017 - Main Report

3.3.2 LNG

LNG enables the connection of Europe to the global market and a large number of producing countries in the Middle East, the Atlantic (including the Mediterra- nean) and the Pacific basins. It gives access to reliable and diversified supply offering the shippers arbitrage opportunities at a global scale between different sources and regional markets.

3.3.2.1 LNG production

Global production reached its historical maximum level of 333bcm (3,663TWh) in 2015 recovering after decreasing in 2012. Since 2001, production has more than doubled. The growth has been more significant in Middle East where LNG produc- tion has been multiplied by four. In the same period the LNG production in the oth- er regions grew as well but to a lesser extent. The different evolutions followed by the three basins have derived in a significant change in their shares. Middle East and Pacific basins are the biggest LNG sources with roughly the same market share in 2015, around 40% share each, while Atlan- tic basin share has been reduced to 22%.

350 bcma

300

250

200

150

100

50

0

2001 2002 2003 2004 2005 2006 2007 2008 2009

2011 2010 2012 2013 2014 2015

Middle East

Pacific

Atlantic

Figure 3.32: Evolution of LNG production by basin 2001–2015 (Source: BP statistical reports 2002–2016)

100 %

80

60

40

20

0

2001 2002 2003 2004 2005 2006 2007 2008 2009

2011 2010 2012 2013 2014 2015

Middle East

Pacific

Atlantic

Figure 3.33: LNG Shares by basin 2001–2015 (Source: BP statistical report 2002–2016)

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