Sustained LNG newbuilding boom until 2030

“Gas is here to stay for the short term. Without a doubt, we’re moving forward to transitionary fuels, but with what’s happening, particularly in Europe, we need the gas to replace pipeline gas,” said Howe Robinson Partners LNG senior broker Debbie Turner.

In an exclusive interview with LNG Shipping & Terminals, Ms Turner said, “The world is changing rapidly, and we need to make some more investment decisions quickly to make sure we have sufficient gas around the world to meet the growing demand.”

Speaking at the LNG Shipping & Terminals Conference in London in November, Ms Turner said as a consequence of this demand, ships will be needed to transport this product. 2022 was an historic year for LNG newbuilding, with 205 LNG carriers ordered from South Korean and Chinese shipyards, according to BRL Weekly Newbuilding Contracts as of mid-December 2022.

Ms Turner is bullish this LNG newbuilding boom will last into the near future.

“If we are to replace LNG with more transitionary fuels, that will stymie the boom continuing. However, up until 2030, I cannot see this boom being curtailed. We need the LNG as that transitionary fuel,” she said.