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January 2025

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Editorial comment

Happy New Year!

As we welcome 2025, the 82nd Golden Globe Awards kicked off awards season in Beverly Hills, California, where Emilia Pérez won the most awards for motion picture and television series (four), with The Brutalist coming in second (three).1

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After its success last year, eyes will be on the US to see if America can retain its crown as the world largest LNG exporter. However it plays out, the US will remain in the spotlight, with Trump’s inauguration only bringing potential for further momentum.

President Trump’s election will likely help this endeavour, having pledged to lift the Biden Administration’s pause on approvals for new LNG projects on his first day in office. However, as Wood Mackenzie has stated in its new report, it believes new final investment decisions for new US LNG projects might happen more slowly than the administration might want.2 In addition, as Reuters has reported, Advisers to Trump are urging him to be patient regarding restarting approvals for LNG export licenses so as to avoid any decisions being overturned in court.3

Nevertheless, with many projects starting production, construction, or having already signed guaranteed contracts (such as Venture Global’s CP2 LNG project, Cheniere Energy’s Corpus Christi facility, and Mexico Pacific’s Saguaro LNG),4 the US remains in a strong position, and Glenfarne Energy Transition’s interview later in this issue highlights the US’ growing importance.

Another topic of discussion that may impact the LNG industry is EU methane regulation. Wood Mackenzie predicts that limited clarity will emerge on how these regulations will be framed. The first date in the diary for LNG importers is 5 May 2025, by which time importers will need to provide information such as whether the producer/exporter of the gas is monitoring methane emissions, carrying out leak detection surveys, and the gas emission’s methane intensity.2 This could either trigger the potential for low-carbon LNG that could transform LNG trade, or cause more complications –it all depends on the clarity and execution of the regulations.

Kalkine Group has also forecasted the decarbonisation of LNG production as a key trend for 2025. In their keynote report at the beginning of this issue, Kalkine examines various strategies such as carbon capture and storage, the integration of renewable energy, and methane emissions reductions as ways for major LNG-producing nations to achieve this. As discussed in various articles throughout the issue, valves, coatings, and boil-off gas management are all things companies can consider to reduce the environmental impact of their operations.

Whatever 2025 may hold, LNG Industry will again be here to bring you the latest on any updates, developments, new projects or regulations, with each issue helping to keep you up-to-date and well informed. We look forward to seeing how it plays out.

References

  1. ‘The 82nd Golden Globe Awards – Winners’, Golden Globes, (6 January 2025), https://goldenglobes.com/articles/the-82nd-golden-globe-awards-winners/
  2. ‘Global Gas and LNG: 5 things to look for in 2025’, Wood Mackenzie, (January 2025), https://www.woodmac.com/news/opinion/gas-lng-2025-outlook/
  3. GARDNER, T. and RENSHAW, J., ‘Trump promised swift action on LNG exports, but advisers preaching patience’, Reuters, (7 January), https://www.reuters.com/business/energy/trump-promised-swift-action-lng-exports-advisers-preaching-patience-2025-01-07/
  4. WILLIAMS-DERRY, C., ‘IEEFA comments to DOE on LNG export terminals and permitting’, Institute for Energy Economics and Financial Analysis, (8 January 2025), https://ieefa.org/resources/ieefa-comments-doe-lng-export-terminals-and-permitting/

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