The last three years have seen extreme events roil energy markets. Global gas and the LNG industry have been impacted most of all. The price range for LNG has seen the biggest swings of all major energy sources.

As natural gas prices recede from the wild surges of last year, a number of new countries are flocking to use the fuel. Germany welcomed its first LNG cargo in January. Vietnam and Hong Kong are among those seeking to debut as LNG importers later in 2023. But even as the gas market expands, questions grow louder about its longevity and place in a net-zero world.

In Japan, the world’s biggest LNG importer, national strategy claims that domestic use of the fuel in power generation will drop by half by 2030 in order to expand the use of renewables. At the other end of the spectrum, Pakistan is among countries ditching gas / LNG in favor of coal because of recent price volatility.

At a time of great uncertainty, forecasting the future of the LNG market is tricky. Yet, over the last decade, it’s become one of the most important global commodities. So, in order to get a perspective on the sector and its development, we break down the five major trends carrying the industry and review the outlook for LNG among major buyers and sellers.