Shell dominates global long-term LNG import contract volumes
Published by Bella Weetch,
Editorial Assistant
Hydrocarbon Engineering,
Royal Dutch Shell (Shell) dominated the global long-term LNG import contract volumes signed by key purchasing companies in 2022, with a contracted capacity of 6.7 million tpy, according to GlobalData.
GlobalData’s report, 'Long-Term LNG Contracts Review Analytics by Region, Contracts and Companies, 2022', reveals that the biggest long-term contract signed by Shell in 2022 was with Mexico Pacific Limited LLC to procure 2.6 million tpy of natural gas. ENN Group occupied second place by signing contracts for a capacity of 3.3 million tpy, while Chevron and ExxonMobil entered into contracts to import 3.0 million tpy of LNG each.
Himani Pant Pandey, Oil and Gas Analyst at GlobalData, comments: “Energy companies are bullish about long-term LNG demand due to decarbonisation efforts and the role of natural gas as a bridge fuel for the energy transition. The signing of long-term contracts also helps companies to hedge against volatile LNG prices and ensures guaranteed supply.”
Among the seller companies, Venture Global LNG signed the highest long-term LNG contract volumes with a total of 11.0 million tpy. Energy Transfer Partners LP and NextDecade Corporation follow with 7.9 million tpy and 6.3 million tpy, respectively.
Himani concludes: “Companies from the US such as the Venture Global LNG have led the signing of the long-term LNG contracts in 2022, as the country is witnessing significant liquefaction capacity additions creating ample opportunities for exports.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/11012023/shell-dominates-global-long-term-lng-import-contract-volumes/
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