Spot and short-term LNG trade has soared to almost 1,000 cargoes per annum and now accounts for more than a quarter LNG trade worldwide.

It’s official, the United Kingdom is the world’s third-largest LNG importer – changing the trading environment for ever in the largest European natural gas market – as imports elsewhere in the region fell or were static because of the recession and euro crisis.

There were 4,110 voyages by LNG carriers last year as a combination of high demand in Asian markets and a tighter availability of vessels led to an escalation of spot charter rates.