Singapore's liquefied natural gas (LNG) imports have shown a consistent increase from 2013 to 2023, growing from 1.27 billion cubic meters to 5.32 billion cubic meters in 2023. During this period, the LNG import volume experienced the highest year-on-year increase of 101.18% in 2014 and a slight decline of 12.36% in 2021. The most recent years show slower growth, with a 1.39% year-on-year increase from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years stands at 3.42%. The forecast from 2024 to 2028 suggests a plateauing trend with a 5-year CAGR of 0.6%.
- 2013-2023: Consistent increase in LNG imports, reaching 5.32 billion cubic meters in 2023.
- Highest growth in 2014 with over 100% increase.
- Slight decline in 2021, followed by modest growth.
- 5-year CAGR (2018-2023): 3.42%.
Future trends to watch for include global LNG market dynamics, regional energy policies, and technological advancements in LNG infrastructure. Increased focus on sustainability and alternative energy sources may also impact LNG demand and imports.