0523 GMT November 29, 2021
In the early 2010s, the Middle East was the biggest LNG exporter globally, with more than one-third of the region's volumes being exported from Qatar, Oman, the UAE and Yemen, the GECF said in a statement, menafn.com reported.
However, capacity expansion in other regions has eroded its share of the market. It is forecasted that, by the end of 2020, only 28 percent of total LNG exports will come from the Middle East.
However, the GECF said there was 'optimism over developments, which would increase absolute levels of exports in the region: De-bottlenecking of existing capacity and capacity additions announced in Qatar by 30 percent; recovering LNG capacity in Yemen; and the entry of Iran into the LNG export market.
"The developments in Qatar and Iran will increase the region's share of LNG exports to more than 30 percent by 2025. The share of the GECF countries will drop from 59 percent in 2016 to 47 percent in 2020, recovering to around 52 percent by 2025 and reaching 50 percent by 2040," GECF said.
Rapidly expanding production and trade of pipeline gas and especially LNG has been observed in recent years.
In 2016, global trade of LNG totaled 257.7 million tons a 15-million-ton increase from the previous year.
In the GECF outlook period (2017-40), this boom in LNG trade is expected to continue, with liquefaction facilities coming online in the US and Australia at increasingly higher rates.
The second wave of expansion will come primarily from Qatar and other GECF members in approximately 2025, as well as from the US. Significant developments in pipeline infrastructure are also taking place in the CIS region, expanding pipeline capacity that will drive exports to China and Europe through the 'Power of Siberia' and the 'Southern Gas Corridor', respectively.