Worldwide production of natural gas reached 4,059 billion cubic meters (bcm) in 2023, with consumption accelerate during the second half of 2024, with new at 4,010 bcm5. 0f this, 936.9 billion bcm was exported, liquefaction capacity coming online. The US provided with 58.6% of that (549.2 bcm) transported as LNG. While the international gas trade fell 2.7% to 936 bcm operating. This includes the expansion of Freeport LNG, the ramp-up of Plaquemines LNG Phase 1, and In 2023, the US overtook both Australia and Qatar the expected start-up of Corpus Christi Stage 3. The to become the world's largest exporter of LNG. also due to come online in the fourth quarter. exports. China overtook Japan to become the largest importer of LNG, with one-third of its imports However, despite the blip in Q2 2024, long-term coming from Australia. Collectively, the Asia Pacific result of new natural gas projects coming online. region accounted for 64% of all LNG imports. Europe Starting in late 2024, the global LNG market will witness its fastest ever capacity growth, representing a 40% increase in the coming five years. The industry quarterly Gas Market Report for Q3 2024, global LNG compared to the previous four-year period. supply grew by 2%, or around 6 bcm, in the first half of the year. However, in Q2 LNG output suffered its by 2028 will be concentrated in the US and Qatar. first year-on-year decline since 2020, when Covid- construction in Russia, Canada, and African nations. and led to widespread cargo cancellations. In the second quarter of 2024, the decline in LNG production