Capex on new LNG capacity has significantly increased over the past several years
Global LNG analysis report 2023 — Part 1
Decarbonisation and the war in Ukraine are just two of the factors driving the massive investment in liquefaction and regasification around the world. The first part of this deep-dive analysis looks at developments in Africa
Numerous trends are driving the short-term and long-term demand for gas globally. These include, but are not limited to, decarbonisation efforts by numerous countries around the world and Russia’s war with Ukraine. In turn, capex on new LNG capacity—both liquefaction and regasification—has skyrocketed over the past several years, with hundreds of billions of dollars in announced investments under development globally. According to the Gas Exporting Countries Forum (GECF), global gas demand will continue to increase to 2050 (see Fig.1). The forum’s report, Global Gas Outlook 2050, sees demand surging to more than 5,600bn m³/yr by 2050. Nearly 50pc of the demand growth will come from the Asia-
Also in this section
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
