Tag Archive for: liquefiednaturalgas

Saudi Aramco wants to become a major liquefied natural gas player, especially in the US as its LNG capacity nearly doubles.

Saudi Aramco to sign US LNG agreements during crown prince’s visit to Washington, sources say

Sources familiar with the matter told Reuters that Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals. This is with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week.

Saudi Aramco, the world’s largest oil exporter, wants to become a major liquefied natural gas player. This is especially in the United States, where they will almost double LNG capacity over the next four years.

It has already signed deals with other U.S. players, including NextDecade’s Rio Grande LNG.

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Source: Oil & Gas 360

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OAPEC said global exports of liquefied natural gas (LNG) reached a record high of 106.4 million tons in the first quarter of 2024.

Global LNG Exports Hit A Record High in Q1

Global exports of liquefied natural gas (LNG) reached a record high of 106.4 million tons in the first quarter of 2024, the Organization of Arab Petroleum Exporting Countries (OAPEC) said.

In the second quarter of the year, LNG exports dropped compared to the first quarter, to 98.6 million tons, according to an analysis of the organization cited by Shafaq News. The second-quarter global LNG exports were down by 0.4% compared to the same period of last year.

In the third quarter, LNG exports rebounded to 100.9 million tons, up by 2.5% compared to the third quarter of 2023, according to the analysis by OAPEC.

LNG exports globally rose by 1.9% between January and September from a year ago, to 305.9 million tons, the organization said.

Per the OAPEC estimates, the United States remained the world’s top LNG exporter in the first nine months of the year, ahead of Australia and Qatar.

The expansion of the LNG export infrastructure over the past five years and the flexibility in cargo destination of U.S. LNG have made America the world’s biggest exporter of liquefied natural gas.

Soaring sales in Europe, which has scrambled to replace Russian pipeline gas, and more LNG projects coming online this decade boosted U.S. exports by 12% in 2023 from a year earlier. At 11.9 billion cubic feet per day (Bcf/d) of LNG exports, the United States easily beat its closest rivals – Qatar and Australia – to become the biggest LNG exporter last year, EIA data showed.

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Source: Oil Price

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