LNG trade grew by 2.5% to a record 245mn tons in 2015. Australia gave the key output boost. More surprisingly, Egypt and Jordan took the extra volumes.
International LNG prices fell sharply in 2015 with demand in the three largest importing markets, Japan, South Korea and China falling by a collective 5% (MEES, 5 February 2016). With Australian output soaring by 25%, prices could easily have collapsed much further were it not for key buying support from a somewhat unlikely corner – the MENA region, and Egypt and Jordan in particular. (CONTINUED - 2237 WORDS)
