0 items USD 0.00Top 10 Liquefied Natural Gas (LNG) Manufacturers in World and Market Status
Global demand for liquefied natural gas (LNG) grew by 12.5% to 359 million tonnes in 2019, while longer-term demand is expected to double to 700 million tonnes by 2040. According to U.S. Energy Information Administration, the United States was a net exporter of LNG in 2017 through 2019, largely because of increases in U.S. natural gas production, declines in natural gas imports by pipeline and as LNG, and increases in LNG export terminal capacity.
Top 10 Liquefied Natural Gas (LNG) Manufacturers in World
- Royal Dutch Shell
- Chevron Corporation
- Exxon Mobil Corporation
- PetroChina Company Limited
- BP plc
- Equinor ASA
- China Petroleum & Chemical Corporation (Sinopec)
- Gazprom Neft
- Canadian Natural Resources Limited
- ConocoPhillips
LNG Global Market Status
Global liquefaction capacity increased from 303.8 mtpa in 2014 to 437.5 mtpa in 2019 at an AAGR of 7.3 percent. It is expected to increase from 437.5 mtpa in 2019 to 654.3 mtpa in 2024 at an AAGR of 8.1 percent. Australia, Qatar, the US, Indonesia, and Malaysia are the key countries globally accounting for over 63 percent of the total liquefaction capacity of the world in 2019. Badak (Indonesia) and Sabine Pass II (the US) are the largest liquefaction terminals in the world with capacities of 22.5 mtpa each. These were commissioned in 1977 and 2016 respectively.
Global LNG liquefaction capacity is expected to grow by 45 percent during the outlook period, 2020-2024. Among regions, North America accounts for most of the global liquefaction capacity growth from new-build (planned and announced), and expansion projects. Among countries, the US leads globally with 145.1 mtpa of liquefaction capacity additions by 2024. Russia and Mexico follow, with capacities of 31.2 mtpa and 11.7 mtpa, respectively.
US to Lead LNG Liquefaction Capacity Growth in North America Region
The US is expected to lead the liquefied natural gas (LNG) liquefaction capacity growth in North America by 2024, accounting for around 92.6% of the region’s total growth. Approximately 144.6 million tonnes per annum (mtpa) is likely to be added by the US by 2024.
In North America, the US is likely to witness capacity additions mainly through the commencement of 11 planned and announced liquefaction terminals during 2020 and 2024. Of these, Rio Grande liquefaction terminal in Texas is one of the largest new-build projects with a capacity of 16.2 mtpa. It aims to monetize abundant, low-cost unconventional gas in Permian Basin and Eagle Ford shale as exports.
The liquefaction capacity in North America is expected to increase by 156.2 mtpa, from 69.9 mtpa in 2020 to 205.1 mtpa by 2024, registering an average annual growth rate (AAGR) of 26.9%. Of the total capacity additions in the region, 125.5 mmbd is expected to come from planned projects, while the remaining 30.7 mmbd is likely to come from the expansions of active/operational projects.
Mexico to occupy the second position in terms of liquefaction capacity additions in North America by 2024. It is expected to add around 10.9 mtpa through four upcoming terminals by 2024. Among the upcoming terminals in Mexico, ECA Mid-Scale and Amigo Floating are the major terminals likely to add a combined liquefaction capacity of 6.4 mtpa by 2024. The remaining additions are from the announced terminals, Sonora and Salina Cruz Floating, which are expected to start operations in 2024 and 2023, respectively.
The expansion of the only active terminal in Canada, Tilbury, is expected to add roughly 0.7 mtpa of liquefaction capacity in the country by 2024.
Global LNG Liquefaction Industry Outlook Report provides updated information on all active, planned and announced LNG terminals globally with start year up to 2024; capital expenditure outlook at global as well as regional level by year and by key countries for planned and announced (new-build) LNG terminals till 2024 and latest developments and contracts related to LNG terminals, wherever available
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Other LNG Industry Reports
Global Small-Scale LNG Liquefaction Capacity and Capital Expenditure Outlook to 2025 - Russia and China Lead Global Capacity Additions
Global LNG Carrier Containment Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2026
Global Liquified Natural Gas (LNG) Tankers Market Growth 2021-2026
LNG Liquefaction Industry Outlook in North America to 2024 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Liquefaction Terminals
Global LNG Liquefaction Industry Outlook to 2024 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Liquefaction Terminals
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