More than 200 large LNG carriers have been ordered since April 2021 at increasingly expensive prices, but investment in new LNG supply is not keeping pace.

Since the invasion of Ukraine, just two projects for new LNG trains have taken final investment decisions (FIDs), despite record-high gas prices and Europe scrambling to replace Russian pipeline gas with LNG.

The surge in orders has meant delivery slots at South Korean shipyards are now hard to come by before 2027, with yards not prepared to accept orders so far in advance.