In 2021, global LNG trade increased by 16.2 MMT and reached 372.3 MMT, up 4.55% YoY.
In 2021, global LNG trade increased by 16.2 MMT and reached 372.3 MMT, up 4.55% YoY.
The post lockdowns economic recovery and continued coal-to-gas switch resulted in a surge in LNG trade. However, the recovery has been uneven across regions, with Asia recording the highest growth led by China while Europe struggled to attract LNG cargoes throughout most of the year.
Spot and short-term LNG trade reached 136.3 MMT, down 4.4% YoY as high spot LNG prices in Asia and Europe discouraged to a certain extent the resort to spot LNG procurement. This volume represented 36.6% of total trade, compared with 40% in 2020.
The US consolidated its position as the leading exporter of spot and short-term LNG, accounting for almost one third (32.2%) of the volumes.
In 2021, the average spot charter rate for a 160,000-CM LNG carrier stood at around $89,200/D, up 50% YoY as it was around $59,300/D in 2020.
A total of 68 LNG vessels were delivered in 2021, compared with 47 vessels in 2020.
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