Natural Gas News – February 24, 2022
Natural Gas News – February 24, 2022
LNG global trade rises 6% in 2021 amid higher demand
Global trade in liquefied natural gas rose 6 per cent to 380 million tonnes in 2021 on the back of higher demand as economies recovered
from the coronavirus-induced slowdown and countries focused on cutting emissions. China, the world’s second-largest economy, and South Korea led the growth in LNG demand in 2021. China surpassed Japan to become the world’s largest importer amid a strong rebound from the pandemic, with its imports growing by 12 million tonnes to 79 million tonnes, according to Shell’s latest annual LNG Outlook report. “Last year showed just how crucial gas and LNG are in providing communities around the world with the energy they need as they strive to get back on track following the difficulties caused by the Covid-19 pandemic,” said Wael Sawan, director of integrated gas, renewables and energy so… For more info go to https://bit.ly/356DLUL
High prices turn U.S. LNG tankers to Europe
It’s not that seven was any sort of long-standing numbers bet for U.S. liquefied natural gas projects. It’s that customers, particularly in energy hungry Europe, were fortunate that America had a record seven LNG export terminals in operation and with carriers docked or loading at all of them on Feb. 12. The historic day came six years to the month that the first LNG export project came online in the Lower 48 states. But seven will not hold the title for long. An eighth terminal is under construction in Texas — owned by Qatar Petroleum and ExxonMobil — with start-up planned for 2024, and a six year-old Houston-based LNG development company this month announced plans to start construction on its Louisiana project in April, with a 2026 first-cargo date. Canada’s first LNG export terminal, un… For more info go to https://bit.ly/3JVw1np
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