During 2008, Cedigaz completed several studies of the prospects for the LNG market in the medium term. The most recent analysis, completed in December, pointed to a worldwide demand for LNG of 405 bcm by 2015, an increase of 75% over the 2008 figure. The annual rate of growth would be around 10% between 2010 and 2012 and slightly higher (+6.5%) between 2012 and 2015. Other points of interest are as follows:

• LNG transactions as a percentage of the world trade in natural gas will increase from around 25% to somewhere between 35% and 40%.
• The LNG market in the Atlantic Basin (America and Europe) will grow at annual rates that are above the average: 17.7% to 2012 and 10.7% from 2012 to 2015.
• Liquefaction capacity at all the plants around the world will increase from 208 million tonnes / year in 2008 to 293 million tonnes / year in 2012 , a rise of 44%. Between 2012 and 2015, this capacity will increase by a further 9.7% to 321.6 million tonnes / year by 2015.
• Regasification capacity will continue to increase substantially, rising from 497 million tonnes / year in 2008 to 788.5 million tonnes / year by 2015.
• In Europe, the study predicts that regasification capacity will rise from 102.4 million tonnes / year at the present time to 201.2 million tonnes / year in 2015. The study indicates that there will be excess regasification capacity in Europe, with consumption levels falling.

This report has already mentioned some of the more general energy-related conclusions reached in World Energy Outlook 2008, looking forward to 2030. The following are some forecasts that relate more specifically to natural gas.

• Demand for natural gas will increase by around 50% around the world between 2006 and 2030 in the reference environment, an accumulated annual rate of increase of 1.8%.
• The electricity generation sector will account for 57% of the projected increase in worldwide demand for natural gas, consuming 45% of all natural gas sold in the world by 2030.
• International trade in natural gas will more than double during the period studied.
• Available natural gas resources around the world are more than sufficient to satisfy estimated demand in 2030.
• Demand in the Pacific Basin will continue to grow in the electricity sector in Japan, South Korea and Taiwan. There will also be significant growth in India and China.