LNG accounts for 43 pct of global energy trade - OAPEC chief

KUWAIT, Feb 7 (KUNA) -- Liquefied natural gas (LNG) makes up some 43 percent of global energy trade operations, the chief of the Organization of Arab Petroleum Exporting Countries (OAPEC) Jamal Al-Loughani said on Wednesday, expecting the figure to possibly surpass natural gas shares.
The increase in LNG trade is attributed to soaring demand, which hit an "unprecedented record" of 405 million tons last year, he told a gathering of LNG experts via video link a day earlier, underlining that a continued rise in demand would pave the way for more projects in the field.
He mentioned that a growing number of countries should witness marquee LNG projects this year, citing the US, Russia and Mexico as cases in point, which would boost global LNG capacity by some 21 million tons, he added.
Arab countries have contributed significantly towards global LNG export operations, where a number of regional LNG projects in the works could augment Arab exports by up to 50 percent in the year 2027, added the OAPEC chief.
The Kuwait-based body continues to monitor the "latest developments" in the global LNG market, as it routinely compile reports and comprehensive studies on the matter, he said. (end) aam.nam