US and Australia to lead surge in LNG production, predicts new report

 The US and Australia will be the frontrunners in the the growth of gas and LNG production over the next few years, according to a new report. 
Surging Liquefied Natural Gas Trade, published jointly last week by  the Atlantic Council’s Global Energy Center and  the Dinu Patriciu Eurasia Centre predicts that, while a fall in overall global demand and the subsequent drop in prices was likely to slow gas production down for at least the next five years, both production and demand – and therefore prices – will pick up after 2020.
In the interim, the US and Australia will account for the largest portion of the predicted 410bcm increase in annual world gas production between 2014 and 2020, up by 114 bcm and 80bcm respectively.
Production gains for other potential gas exporters is expected to be modest for the rest of the decade, with the possible exception of an additional 51bcm from the gas fields of the Caspian Sea. 
“Most of this boost will come from planned increases in gas sent by Turkmenistan through pipelines to China and the beginning of gas shipments by Azerbaijan through the Southern Corridor pipelines to Europe,” the report predicts.

Source: TREND