[size=36]Energy Agency: America's largest exporter and China's largest liquefied natural gas importer in 2024[/size]
International Energy Agency predicted that the United States become the largest exporter of natural gas ( LNG ) in the world and China , the largest importer within five years.
Peter Fraser, head of the International Energy Agency's gas, coal and electricity markets, said Tuesday that US exports of liquefied natural gas (LNG) are expected to jump to more than 100 billion cubic meters in 2024 to oust Australia And Qatar, which leads the market now, according to "Reuters".
Meanwhile, China's imports of liquefied natural gas (LNG) are expected to rise to more than 100 billion cubic meters in 2024, outperforming Japan, currently the world's top importer.
Japan's imports have fallen since peak in 2014, after utility companies resumed operation of some nuclear plants shut down for mandatory safety checks and testing after damage to the Fukushima nuclear plant in 2011 by an earthquake and tsunamis.
The International Energy Agency (IEA) said it expected global demand for liquefied natural gas (LNG) to grow about 4 percent annually until 2024. To meet this demand, developers took final investment decisions in 2018 to add 29 billion cubic meters of new export capacity, doubling to 58 billion cubic meters So far in 2019, according to Fraser.
In addition, some developers said they could make final investment decisions later this year that would add more than 120 billion cubic feet of energy, according to the agency, including about 30 billion cubic meters in the United States and 43 billion cubic meters in Qatar.
Global demand for liquefied natural gas reached a record 432 billion cubic meters in 2018, after rising by about 10 percent over the last few years, mainly due to rapid growth in China.
China's demand for natural gas, which rose 18 percent in 2018, is backed by environmental policies aimed at diverting most industrial and domestic consumption from coal to gas to reduce air pollution, the agency said.
It said it expected gas growth in China to slow to an annual pace of 8 percent by 2024 due to slower economic growth.
According to the Energy Agency, the United States, already the world's top gas producer, will see output grow to more than 1 trillion cubic meters in 2024, boosting its global production share to about 23 percent.