GlobalData analyses LNG demand

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 mtpa of natural gas. ENN Group occupied the second place by signing contracts for a capacity of 3.3 mtpa, while Chevron and ExxonMobil entered into contracts to import 3.0 mtpa of LNG each.

Himani Pant Pandey, Oil and Gas Analyst at GlobalData, commented: “Energy companies are bullishabout 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 mtpa. Energy Transfer Partners LP and NextDecade Corporation follow with 7.9 mtpa and 6.3 mtpa, respectively.

Himani concluded: “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.”