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A driver fills up a UPS truck with liquid natural gas. Photo: J. Emilio Flores/Corbis via Getty Images

Not long after putting the news of Shell's big new Canadian LNG project to bed, Axios received a Wood Mackenzie note taking stock of the action with analyst Dulles Wang writing that after several quiet years, "We believe 2019 could be the busiest year of LNG [final investment decisions] ever. It seems that mega-projects are back."

Why it matters: The expected flurry of action reflects an important dynamic — China's energy needs are booming while it's trying to move away from coal in order to address terrible air pollution. The Canadian project joins others, like the proposed Alaska LNG project, planning to serve Asian demand more broadly.

The momentum behind LNG Canada reflects the drastic improvement in the LNG market over the past 12 months, driven by buoyant demand in China. A clutch of projects are vying for FID, including four mega trains in Qatar, Arctic LNG-2 in Russia, at least one development in Mozambique and several US projects.
— Dulles Wang

The big picture: A Reuters story yesterday looks more deeply at the global market.

  • Their piece cites different estimates of how much global LNG demand will grow, which range from 360 million metric tons per annum (mtpa) to as much as 450 million mtpa in 2023. (Per Shell, it was 293 million mtpa last year).
  • Reuters also quotes a Bernstein research note stating:
There needs to be 200 mtpa LNG capacity authorized by 2025 to meet future demand — this is a colossal boom, a 42 percent expansion on the entire capacity installed since 1962.

Go deeper

28 mins ago - World

HRW: Over 100 former Afghan security members dead or missing under Taliban rule

Members of the Taliban movement patrol Kabul's airport in September. Photo: Valery Sharifulin/TASS via Getty Images

The Taliban have "killed or forcibly disappeared" over 100 former members of Afghanistan's security forces since the group took power in August, a Human Rights Watch report published Tuesday found.

Why it matters: It means former military members and officials from the ousted government, activists and other Taliban critics are facing peril amid executions driven by revenge — despite Taliban promises of an "amnesty" with no retributions, notes the New York Times, which first reported the news.

1 hour ago - World

Barbados becomes a republic, replacing U.K. queen with president

Combination images of Dame Sandra Mason, president of Barbados, and Britain's Prince Charles at her swearing-in ceremony in Bridgetown, Barbados, late Monday.

Barbados officially became a republic at midnight local time after Dame Sandra Mason was sworn in as the Caribbean nation's first president in a ceremony attended by the United Kingdom's Prince Charles.

Why it matters: Mason replaced Britain's Queen Elizabeth as head of state Tuesday — removing the country's final remaining colonial tie to the U.K. almost 400 years after the first British ships arrived in Barbados.

Right-wingers making McCarthy sweat for future Speaker post

House Minority Leader Kevin McCarthy stands with his Republican colleagues outside the House on Nov. 17. Photo: Stefani Reynolds/Bloomberg via Getty Images

Right-wing elements in the Republican Party are complicating House Minority Leader Kevin McCarthy's attempts to become the next speaker of the House should the GOP take back the majority in 2022.

Why it matters: While McCarthy has worked carefully to build trust among the conservatives who tanked his chances at clinching the speakership in 2015, they're still circling ahead of the next Speaker vote in January 2023.