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Global LNG Supply to Rise by 6% in Winter 23


Global LNG supply is forecast to increase by 6% this winter compared to the previous year, according to BNEF.

  • Total supply will equate to 220m mt.
  • The US will be responsible for the bulk of the growth due to the return of Freeport LNG from a lengthy outage, although increased supply will also come from projects such as: Russia’s Arctic LNG 2, Mexico’s Altamira Fast LNG and the Tangguh train 2 in Indonesia.
  • US LNG exports are set to climb by 17% during the winter, with higher output expected at most US terminals.
  • Russian production will grow by 3% compared to winter 2022 with the BNEF expecting Russia’s Arctic LNG 2 to begin exporting in January.
  • Australia’s exports are forecast to rise marginally, with lengthy shut-ins due to strikes considered unlikely.
Source: BNEF

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