FEATURES OF THE MODERN GLOBAL LIQUEFIED NATURAL GAS MARKET

Abstract

The article is devoted to current issues of identifying modern trends shaping the global liquefied natural gas (LNG) market. The purpose of the publication is to document changes in the characteristics of its infrastructure and to identify the specifics of forming new logistical supply chains for liquefied natural gas. The latest publications on this topic have been analyzed, and directions for further research have been outlined. The main material presents the results of an analysis of the structure of supply and demand, as well as the level of market concentration. It is noted that the global LNG market can be considered moderately concentrated and potentially competitive. The characteristics of infrastructure elements ensuring the functioning of this market, including export and import LNG terminals and the tanker fleet, have been studied. The growth rates of the gross capacity of gas carrier tankers have been calculated, and the composition of the fleet of the world's largest shipowner of such vessels has been characterized. The number of export and import LNG terminals worldwide and their geographical distribution have been analyzed. Information regarding the utilization level of existing production capacities has been summarized. It has been established that the market is experiencing two opposing processes: an increase in the total capacity of infrastructure elements and a decrease in their average utilization rate. The foreign experience in managing the operation of regasification terminals within a country is highlighted. The low predictability of the global LNG market and its dependence on a variety of factors are noted. Based on the systematization of information regarding global experience in organizing LNG supplies, the goals and conditions for individual countries to enter this market have been identified. It is proposed that decisions to enter the global LNG market should be linked to a country’s energy strategy and include planned exit strategies. Such decisions should be systemic and aimed at designing not individual terminals but entire LNG supply chains. It is noted that further research could address issues of the stability and economic security of these supply chains.