Shell leads global long-term LNG contracted capacity signed in 2022: GlobalData
Shell dominated the global long-term LNG import contract volumes signed by key purchasing companies in 2022, with a contracted capacity of 6.7mn metric tons/year, GlobalData, a data and analytics company, said on January 11.
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 to procure 2.6mn mt/yr of LNG. China's ENN Group occupied second place by signing contracts for a capacity of 3.3mn mt/yr, while Chevron and ExxonMobil entered into contracts to import 3mn mt/yr of LNG each.
The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.
Himani Pant Pandey, oil and gas analyst at GlobalData, said: “Energy companies are bullish about long-term LNG demand due to decarbonization 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 11mn mt/yr. Energy Transfer Partners and NextDecade Corporation follow with 7.9mn mt/yr and 6.3mn mt/yr, respectively.
“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,” Pandey said.