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 the second place by signing contracts for a capacity of 3.3 million tpy, while Chevron and ExxonMobil entered into contracts to import 3 million tpy of LNG each.
Himani Pant Pandey, Oil and Gas Analyst at GlobalData, commented: “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 million tpy, according to GlobalData. Energy Transfer Partners LP and NextDecade Corporation follow with 7.9 million tpy and 6.3 million tpy, 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.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12012023/globaldata-shell-leads-global-long-term-lng-contracted-capacity-signed-among-purchasing-companies-in-2022/
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