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Asian LNG imports rose by 10.5 million metric tons (mmt) in 2023 versus 2022, the largest year/year change for any market, according to the International Gas Union’s (IGU) newly published 2024 World LNG Report.
China regained its spot as the world’s top importer at 71.2 mmt in 2023, up 11.95% from 2022. India saw an increase of 9.7% to nearly 22.0 mmt, while new importers Vietnam and the Philippines added their names to the list of liquefied natural gas-thirsty consumers in Southeast Asia.
The trend supports the business case of the dozen or so LNG export terminals proposed for Mexico, most of which plan to re-export U.S. pipeline gas to the Asia Pacific market from Mexico’s Pacific Coast.
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