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Ample future supply for new projects
Natural gas and LNG is an abundant, secure and flexible source of energy and the high levels of anticipated demand can easily be met by known levels of recoverable natural gas resources. As technology advances, so does our ability to unlock the world’s natural gas resources. Today, global proven gas resources stand at 769 trillion cubic metres, enough to supply global gas demand for 219 years at current levels of demand.
There is ample LNG supply on the horizon: 850 million tonnes of potential LNG projects are currently being proposed worldwide, compared with a current consumption of 314 million tonnes.
There has been rapid growth in the number of countries supplying LNG, almost doubling between the start of the century and 2017. This has significantly increased the flexibility and security of gas supply options for importing countries. For example, in 2017 China imported natural gas from more than 20 countries, via a combination of both pipelines and as LNG.