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Global LNG supply set to remain tight throughout 2023

According to the latest IEA report, global LNG supply is forecast to increase by only 4% (or over 20 bcm) in 2023. This will not be enough to make up the expected reduction in the continued loss of natural gas piped from Russia to Europe.

Year on year change in global natural gas supply 2019 2023 - The Oregon Group - Investment Insights

The warning comes as Asia, Europe and the US are experiencing extreme temperatures — putting extra strain on electricity demand as waterways for hydroelectrics dry up and populations turn to air-conditioning.

To meet the LNG supply shortfall, particularly in Europe, the US is projected to account for over 50% of global supply increase in 2023. In 2022, America became the world’s largest exporter of liquified natural gas (LNG), with exports increasing 12% on the first half of 2021.

US natural gas production remained close to the record 100 bcfd mark during Q1 2023 - The Oregon Group - Investment Insights

Our report on how the US is setting sail to meet global LNG demand:

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The Oregon Group

The Oregon Group is an investment research team focused on critical minerals, mining, energy and geopolitics.

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