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Chart of the Day: Global LNG Capacity Increased in 2024… but
Summary
Figure (1) shows existing LNG capacity in the world today, including the additions in 2024. Several new LNG projects initially scheduled to commence operations in 2024 were delayed until 2025 due to construction and commissioning setbacks, which are common challenges in capital-intensive LNG projects. As a result, the global LNG market has experienced a limited capacity increase of 8.6 million tons per annum (mtpa) from three new projects in Russia, Mexico, and Congo. The most significant capacity expansion has been observed in Russia, with the startup of the first LNG train at the Arctic 2 project, with a nameplate capacity of 6.6 mtpa.