2022 WORLD LNG REPORT PRESS RELEASE - Seite 2

imports, and Asia increased net imports by

9.5 MT.

Growth in exports came from the United

States (+22.3 MT), Egypt (+5.2 MT) and

Algeria (+1.2 MT).

Asia received the largest volume of
reexports

(1.6 MT), while Europe re-exported

the largest volumes (2.3 MT).

Contractions were greatest in India (-2.6
MT)

and the United Kingdom (-2.4 MT).

Source: GIIGNL

The LNG sector continued to adjust to rallying demand with incredible agility. Strong post-COVID-19 recovery and growth in LNG demand demonstrated that it remains highly valued as a means of fuelling economies and reaching climate goals, while also highlighting urgent need for greater investment in supply to ensure it is more affordable.

IGU Secretary General, Milton Catelin, stressed: "LNG plays a critical role in assuring the fundamentals of global energy security and economic stability, and this role has never been greater than it is now. As the world considers its options for navigating through unprecedented times, policymakers should consider the options that are available and the time that is required to bring new supply online. The industry urgently needs policy clarity, beyond the short-term."

Price

The world is all too aware of the energy prices rally. LNG price growth began with a rapid post-COVID-19 demand recovery and less rapid additions of supply and continued to get worse as the Russia-Ukraine conflict added more stress to the already fully subscribed market. Spot LNG prices surged to historic highs, and European benchmarks exceeded their Asian counterparts. Addressing supply constraints is going to be critical to energy security and economic stability in the world.