The data indicated that Chile's liquefied natural gas (LNG) imports fluctuated remarkably over the past decade. From 2013's 3.8 billion cubic meters, there was a general oscillation in the annual volume, peaking at 4.5 billion cubic meters in 2016 before declining to 3.35 billion in 2022. By 2023, the volume stood at 3.45 billion cubic meters, marking a slight year-on-year increase of 3.07%. The overall compound annual growth rate (CAGR) for the latest five-year period was -4.29%, showing a decreasing trend.
Future forecasts predict a gradual uptrend in LNG imports, with an expected increase from 3.55 billion cubic meters in 2024 to 3.92 billion cubic meters by 2028. The projected five-year CAGR is 1.97%, leading to a cumulative growth rate of 10.25% over the period.
Trends to watch for:
- Potential shifts in global LNG supply and pricing due to geopolitical events.
- Increased domestic energy production impacting LNG import needs.
- Developments in renewable energy sources reducing dependence on LNG.
