Sign in to follow this  
Followers 0
Ron Wagner

How is Natural Gas and LNG Doing? How Big is its Future?

Recommended Posts


Samsung Heavy secures order for 15 LNG carriers

February 6, 2024
Samsung Heavy secures order for 15 LNG carriers For illustration only (Image: Samsung Heavy Industries)

South Korean shipbuilding giant Samsung Heavy Industries has secured a large order to build 15 liquefied natural gas (LNG) carriers.

Samsung Heavy said on Tuesday it will build the 174,000-cbm LNG carriers for an unidentified owner in the Middle East for 4.57 trillion won ($3.45 billion).

This is the largest single vessel order for SHI.

The shipbuilder will sequentially deliver the LNG carriers by October 2028.

SHI did not provide any additional information regarding the contract.

Shipbuilding sources told LNG Prime that this order is probably related to the second part of the giant QatarEnergy shipbuilding program.

The price of about $230 million per LNG carrier is almost the same as QatarEnergy’s shipbuilding deal with HD Hyundai Heavy for 17 LNG carriers.

Last year, QatarEnergy signed the deal worth about 3.9 billion with HD Hyundai Heavy, kicking off the second phase of the shipbuilding program.

The prices of about $229-230 million per vessel are much lower than the current average price for a 174,000-cbm LNG carrier in South Korea of about $260-265 million.

Under the first phase of the shipbuilding contract, QatarEnergy contracted 60 LNG carriers at South Korea’s three shipbuilders HHI, SHI, and Hanwha Ocean, and China’s Hudong-Zhonghua.

With the order at HHI, the firm booked 77 vessels.

If confirmed, this newest order at SHI brings the total to 92 LNG carriers.

LNG Prime was also the first to report that QatarEnergy has signed a shipbuilding deal with China’s Hudong-Zhonghua for the construction of eight Q-Max LNG carriers as part of its shipbuilding program.

The giant vessels will have a capacity of 271,000 cubic meters and are scheduled to be delivered in 2028 and 2029, shipbuilding sources previously said.

Share this post

Link to post
Share on other sites


Shell CEO: LNG Canada to start commissioning later this year

February 5, 2024
Shell CEO: LNG Canada to start commissioning later this year Image: LNG Canada

Shell’s LNG Canada terminal is more than 90 percent complete and the project is preparing to launch commissioning activities later this year, according to Shell’s CEO, Wael Sawan.

This is the first large LNG export terminal in Canada. Contractor JGC Fluor is constructing the first phase of the giant LNG Canada project that includes two liquefaction trains with a capacity of 14 mtpa in Kitimat, British Columbia.

Last year, TC Energy’s Coastal GasLink pipeline, which will supply natural gas to the LNG Canada terminal, was mechanically completed.

Besides operator Shell, other partners in the project include Malaysia’s Petronas, PetroChina, Japan’s Mitsubishi Corporation, and South Korea’s Kogas.

LNG Canada said in the December update that the project was more than 85 percent complete and that it expects to begin start-up activities, which will last more than a year, in 2024.

The JV confirmed in the update that it expects to ship first cargoes “by the middle of this decade”.

Commissioning cargoes

Shell’s CEO Sawan told analysts during Shell’s fourth quarter earnings call on Thursday that the Coastal GasLink pipeline is “ready and available to ramp up through the course of 2024.”

He said that the facility itself at Kitimat is now just over 90 percent complete as per the report from the joint venture.

“So, they’re making good progress. And we would expect that later this year, they would start up the commissioning of the plant,” Sawan said.

“That, of course, takes several months, well into 2025. But it’s comforting to see the progress that is being made. And of course, once we start producing those commissioning cargoes will be made available from day one to our foundational customers as you would expect,” he said.

The CEO did not say whether LNG Canada is expected to produce its first cargo in 2025 or sooner.

“This is a very, very complex facility that’s going to be ramped up. And therefore, we are going to watch it and to support the team as they do that through the course of the coming 12 months to 18 months,” Sawan said.

Share this post

Link to post
Share on other sites


US was top LNG exporter in 2023 as hit record levels

January 3, 202410:28 AM CSTUpdated a month ago
Storage tanks and gas-chilling units are seen at Freeport LNG
Storage tanks and gas-chilling units are seen at Freeport LNG, the second largest exporter of U.S. liquified natural gas, near Freeport, Texas, U.S., February 11, 2023. Reuters/Arathy Somasekhar/File Photo Purchase Licensing Rights, opens new tab
HOUSTON, Jan 2 (Reuters) - U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023.
The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S. terminals in December.
Advertisement · Scroll to continue
Qatar was the largest LNG exporter in 2022 and Australia the second-largest that year, U.S. government data showed.
"U.S. record production was driven by two factors: the return of Freeport LNG to full service, which added 6 MT and the full-year output of Venture Global LNG's Calcasieu Pass facility that added 3 MT more than in 2022," Munton said.
Full year exports from the U.S. rose 14.7% to 88.9 million metric tons (MT) driven largely by the return to full production of the Freeport LNG plant that had suffered a fire in 2022, and as others increased processing efficiency, LSEG data showed.
Advertisement · Scroll to continue
Report this ad
Shipments compare to 77.5 million metric tons in 2022, the data from the financial information provider showed.
Reuters Graphics Reuters Graphics
Reuters Graphics Reuters Graphics
Europe remained the main destination for U.S. LNG exports in December, with 5.43 MT, or just over 61%. In November, 68% of U.S. LNG exports were to Europe, LSEG data showed.
The month-over-month drop reflected warmer than normal temperatures in Europe and elevated storage levels, analysts at consultants Rystad Energy said. European gas storage was about 97% full at the beginning of December, it reported.
Advertisement · Scroll to continue
Report this ad
Asia was the second largest export market for U.S. LNG in December, taking 2.29 MT, or 26.6%, of exports, up from 18.5% in November. U.S. exports to Latin America were half a million metric tons, or just under 6% of total exports, LSEG ship tracking data showed.
Natural gas flows to the seven big U.S. LNG export plants have climbed an average 14.9 billion cubic feet per day (bcfd) so far in January, up from a monthly record of 14.7 bcfd in December. That topped the prior all-time monthly high of 4.3 bcfd in November, LSEG data showed.
U.S. gas was trading Tuesday morning at $2.55 per million British thermal units (mmBtu) at the Henry Hub benchmark in Louisiana , $9.81 per mmBtu at the Dutch Title Transfer Facility (TTF) benchmark in Europe and $11.52 per mmBtu at the Japan Korea Marker (JKM) in Asia .

Reporting by Curtis Williams in Houston; additional reporting by Scott DiSavino in New York; editing by Alexander Smith

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Purchase Licensing Rights

Share this post

Link to post
Share on other sites


Natural gas production

After its 2021 rebound, global gas production remained stable in 2022.


Russia's gas production fall in 2022.

After its 2021 rebound, global gas production remained stable in 2022.

Global gas production, which had increased by 4.3% in 2021, remained stable in 2022, in a context of lower gas demand, and as the fall in Russia’s production was offset by higher output in North America, the Middle East, China and Australia. Gas production fell by 12% in Russia due to lower exports to Europe. The continuous decrease in gas production in the Netherlands (-15% in 2022) contributed to a 7.6% drop in the EU gas production, which was partly offset by a higher output in Norway and in the UK. Gas production also declined in Africa (-4.8%), with lower output in Algeria, Egypt and Nigeria. Meanwhile, gas production continued to grow in North America (+4.8%, including +4.3% in the USA and +7.3% in Canada), in China (+6%), in Australia (+7.3%), in the Middle East (+3.2%) and in Latin America (+3.7%, spurred by the development of the Vaca Muerta field in Argentina and by Mexico, despite a nearly 7% drop in Brazil, where gas consumption collapsed).

Breakdown by country (bcm) 
Display Trend
Year : 2022
To display the statistics of a specific country, click on it!
Unit: bcm
United States1,027
Saudi Arabia105

Trend over 1990 - 2022 - bcm

Benchmark countries

% in total production (2022) - Mtoe

Global Energy Trends - 2023 Edition

Enerdata's Global Energy and Climate Trends report analyses key statistics, the Global Stocktake and the natural gas crisis resulting from the Ukraine conflict.

 Download the publication
Global Energy & CO2 Data

Need more data? All the information presented in this energy data tool are extracted from Global Energy & CO2 Data service, the most comprehensive and up-to-date database on all gas states and sources: natural, manufactured and LNG. Access to the whole gas value chain information: reserves, production, trade, LNG liquefaction capacities, prices, consumption per sector and indicators.

 Discover this service



According to the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP), Brazil's average oil and gas production rose to record high levels in 2023, with crude oil production soaring by nearly 13% to over 3.4 mb/d and natural gas production growing by 8.7%. Most of the national production (over 75%) came from the Brazil’s pre-salt, an oil-rich offshore region off the country’s southeastern Atlantic coast, especially in the Santos basin, and in the Campos basin; gas production is dominated by Santos (75%), Solimões (9%) and Campos (9%) basins. The Brazilian oil and gas company Petrobras was the largest oil and gas producer in Brazil, accounting for 87% of oil production and 91% of gas production in December 2023.



Shell has released its financial and operational figures for 2023, in which the global oil and gas company posts a profit of US$28.25bn, a 29% decrease compared to 2022. Shell’s total production of oil and gas stood at 939 kboe/d in 2022, a 2% increase compared to 2022. Natural gas production rose by 2% to 4,700 mcf/d (133 mcm/d) and liquids production remained stable at 128 kb/d (+1%). 



The uranium output of the Kazakh state-owned uranium extraction and nuclear group Kazatomprom decreased slightly (-1%) in 2023 to 21,112 tU3O8 (on a 100% basis). Its attributable production volume fell by 2% to 11,169 tU3O8 during the year, but its sales increased by 10% to 18,069 tU3O8 . 2024 uranium production volumes are expected to range between 21,000 and 22,500 tU on a 100% basis (10,900-11,900 tU3O8 attributable). 



The Colombian National Hydrocarbons Agency (ANH) has announced that oil production in Colombia in 2023 increased by 3%, as several fields reported an increase in their production like the Cañon Sur Este (+114%) and the Tingana fields (+28%). However, oil exports and derivatives decreased by nearly 19% in 2023. Natural gas production decreased by 1.4% compared to 2022, falling below 11 bcm, while gas imports increased by 2.5%. The report also notes a decrease in drilling activity (-23.5%), with a reduction in the number of active drill holes (-35%), exploration wells (-31%) and development wells (-7.5%). 


Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  
Followers 0