Insight

LNG in brief

21 June 2022

Get this report

$1,050

You can pay by card or invoice

Share link

Contact us

Submit your details to receive further information about this report.

First name
Last name
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

21 June 2022

LNG in brief

Report summary

Our LNG in brief is a rolling coverage of events as they happen in global LNG markets covering the latest stories including contracts, upstream supply, regas, policy and trade. Also included is our latest LNG Big Chill podcast where we provide a more in depth discussion every month on the hottest LNG stories. The page can be bookmarked for quick access to the latest stories and also for links to our most recent informs and insights.

LNG landing pages
LNG trackers
ExxonMobil gets a share in Qatar’s giant North Field East LNG project
Eni and ConocoPhillips join TotalEnergies in Qatar’s giant North Field East LNG project
Longer-term Freeport LNG outages
- Latest insights and informs
Tanzania LNG breakthrough, but still a decade away at best
TotalEnergies awarded interest in a new joint venture alongside QatarEnergy
Momentum builds for Sempra Infrastructure’s Gulf Coast Projects
Indian buyers discuss the acquisition of Shell’s stake in the Sakhalin-2
World Gas Conference, Daegu ushers in a new wave of South Korean contract announcements
Venture Global continues marketing at Calcasieu Pass Phase 2 and Plaquemines LNG
Total records US$4.1 billion impairment largely due to Arctic LNG-2
QatarEnergy finalises contracts for 32 mmtpa North Field East expansion
INPEX aims for Ichthys expansion
Prelude restarts as Crux moves towards FID
Testing times ahead for SSGP
JERA sets up new Singapore company to negotiate more flexibility into long-term contracts
NextDecade signs offtake agreements with Chinese emerging buyers
Sinopec and PetroChina consider buying discounted spot cargoes from Russia
Gunvor and ENI renege on long-term contracts to Pakistan
Woodside turns-on Pluto-NWS interconnector
TotalEnergies and Sempra expand North American strategic alliance
Venture Global’s marketing focus moves to Calcasieu Pass Phase 2
Cheniere issues Limited Notice to Proceed at Corpus Christi Stage 3
Uniper expanding its available regas capacity in North-West Europe
Mubadala starts gas production from Malaysia’s Pegaga field
CPC’s third LNG terminal passes environmental impact assessment
Santos' Bayu-Undan CCS project enters FEED
ExxonMobil to exit Sakhalin-1 in Russia
New Fortess Energy sign HoA with ENI, as ENI revisit Fast LNG in Congo
Cheniere and EOG expand commercial ties
- The facts
- Our take
- Stage 3 moving forward
- Portfolio flexibility
PNG inks P’nyang gas agreement
Cheniere's Sabine Pass Train 6 enters commercial service
Shell’s Prelude expected offline until Q2
Fourth Australian LNG import terminal gets state approval
Abu Dhabi Investment Authority buys 10% interest in Sempra Infrastructure Partners
New Fortress Energy sign MoU with Mauritania for Fast LNG
US-China LNG deals continue: Venture Global signs two with CNOOC
Hot on the heels of Port Kembla: Viva LNG announces key deals
JERA buys into high emissions Barossa gas project
China signs up more Qatari LNG
- Qatar continues its strong run of marketing success
Atlantic LNG: Shell signs PSC contract for Manatee Development
Australian LNG imports move one step closer as AIE charters FSRU
Cheniere Marketing signs SPA with Foran for 0.3 mmtpa
- The facts
- Our take
EPFC contract awarded to McDermott International for Woodfibre LNG
- The facts
- Our take
Cheniere Marketing signs SPA with Sinochem for 1.8 mmtpa
- The facts
- Our take
Sabah government approves third FLNG vessel
EIG buys 10% of APLNG from Origin
Cheniere Marketing signs SPA with Glencore for 0.8 mmtpa
- Our take
ADNOC LNG looks toFujairahsite for newliquefactionfacility
Charter rates on the rise: Pacific basin charters trade at a premium
Woodside reserves take a hit at Wheatstone
Venture Global’s Plaquemines LNG signs SPAs with Sinopec for 4 mmtpa
Singapore terminal operator looks to import LNG to protect energy security
EG LNG to face disruptions until end-October
Cheniere and ENN sign 0.9 mmtpa SPA
Stonepeak to enter LNG shipping space with acquisition of Teekay LNG
Qatar Petroleum and CNOOC sign 3.5 mmtpa SPA
Beach Energy and BP agree LNG deal for Waitsia
Santos and Timor-Leste sign Bayu-Undan CCS MOU
PTTEP pushes Lang Lebah FID to 2023
EPC contract awarded for Baltic LNG
Excelerate Energy to lease Petrobras’ TRBA regas terminal
MLNG backfill: Shell FID’s Malaysian Timi field, including renewable power
P’nyang and PNG T3 negotiations restart
Northwest Europe LNG sendout falls below 5 year average
PETRONAS pushes third FLNG vessel towards FEED
Abadi FID delayed further- can Southeast Asia’s vital pre-FID projects be developed?
At last: more gas for GoFLNG as Perenco commits to new wells
Japan's new 2030 energy mix unveils radical plans to transform the energy system
Shell adds LNG shipping capacity with six newbuild charters
TotalEnergies signs US$750m GLNG infrastructure agreement with GIP
Chinese LNG imports: LNG contracting heats up as spot purchases slow down
Hybrid Brent and AECO LNG supply agreement signed by PETRONAS and CNOOC
Sempra 2021 strategy update: large single-train expansion planned at Cameron LNG
US$4 billion Jansz-Io compression project gets the green light
Rovuma LNG: unlikely to FID before 2026
Kuwait’s Al-Zour terminal seeks commissioning cargo
Tellurian signs SPA for 3 mmtpa with Vitol
Total and ArcelorMittal Nippon Steel India sign flexible LNG Supply deal
Australian spot cargoes rumoured to be impacted by rising political tensions
Woodfibre LNG signs second SPA with BP
Russian NOVATEK announces Q1 2021 results
Replacement FSRU arrives at the Dortyol LNG Terminal
Total declares force majeure on Mozambique LNG project
Merakes makes waves in the Kutei Basin
The Australian government gives CCUS a cash injection
SK408 partners sanction Jerun project
Argentina chartered its second FSRU for Bahia Blanca
Qatar Petroleum to take on 100% ownership of QatarGas-1 in 2022
Victorian Government rejects proposed Crib Point import terminal
Total suspends construction once more at Mozambique LNG
Chinese buyers return to long-term contracting
NextDecade reveals cost estimates for proposed CCS project at Rio Grande LNG
New Fortress Energy takes FID on Fast LNG
Argentina's IEASA races to secure cargoes for the April-August period.
Macquarie Capital launches LNG infrastructure vehicle
Shenergy signs a 15-year SPA with NOVATEK from Arctic LNG-2
LNG Stade announce successful non-binding open season
Qatar Petroleum signs long-term LNG deal with Vitol for supplies in Bangladesh
Woodside and Santos look towards FID’s in 2021
Fluxys sanction 6 mmtpa capacity expansion at Zeebrugge terminal
PETRONAS FLNG DUA achieves first LNG production
Qatar Petroleum sanctions largest LNG project in history
Equinor takes impairment close to $1 billion on Tanzania LNG
Pipeline attacks in Nigeria highlight increased security risks in 2021
Croatia become Europe’s latest LNG importer with the arrival of first LNG carrier
Barossa takes step towards FID as Santos sign 10 year 1.5 mmtpa LNG deal with DGI
Papua LNG to move ahead on its own
One small LNG bunkering operation in Asia, one giant leap for Asian LNG bunkering
Qatar Petroleum kickstarts QP Trading with SPA with Pavilion Energy
Cheniere increases its run rate, announces deal with Foran Energy
Tortue project conceptoptimised in bid to deliver value
Wilhelmshaven FSRU’s failed open season provides boost to other planned German terminals
Russian Arctic LNG-2 finishes up fleet formation
Norway’s Snøhvit LNG outage extended to a year after fire incident
Tango FLNG project between YPF and Exmar comes to an early end
Qatar Petroleum on track for lower emission North Field expansion projects
Tanzania to resume negations with IOCs over delayed LNG project.
Snøhvit LNG set for outage of at least one month after fire incident
Equinor takes step towards full electrification of Snohvit LNG with FEED award to Aibel
Golden Pass LNG update
Sinopec award of 1 mmtpa tender to Qatar, brings Asian oil linked contract slopes to a new low
Northeast Asia’s backlash against coal escalates (again), providing upside for LNG
Regulator provides clarity on Gorgon propane kettle inspection and remedial work schedules
Tokyo Gas acquires North Louisiana gas assets
Weld issues found at Gorgon LNG
CNOOC purchases two carbon-neutral LNG cargoes from Shell
Vietnam to start importing LNG by 2021
Warren Buffet’s Berkshire Hathaway Energy makes move into LNG
Mozambique LNG completes US$14.4 billion financing
KBR’s retreat from LNG directly impacts five North America projects
Myanmar’s first LNG-to-power plant begins operations marking the start of the country as an LNG consumer; PPA signed
Gazprom hopes to defend market share with Greece contract first
NOVATEK orders two floating LNG storage units in South Korea
The great US LNG pushback arrives
Gulf is Thailand's first non-state-owned player to receive an LNG shipper licence
What's in store for China's gas storage?
Croatia LNG terminal receives boost with short-term capacity reservations
Yamal LNG goes over the top early
Time is against IEASA on procuring LNG for upcoming winter in Argentina
Shell announces its own FID on NLNG T7
Argentina will increase its LNG imports this year
Yakutia LNG project in Russia’s Far East seems far-fetched
Could French regas become fully booked?
JERA agrees to buy into Barossa, backfill field for Darwin LNG
Utrenniy terminal to be expanded for Arctic LNG-1
European gas storage: record inventory in place further weakens summer market
Tortue FLNG start-up delayed by one year with BP declaring force majeure
No project is immune: Mozambique’s Rovuma LNG sanction is postponed
The fall-out continues: Nigeria LNG Train 7 delayed
Shell leaves Lake Charles: It’s not you, it’s me
Greece regas capacity booked, but coronavirus concerns cancel equity sale
Coronavirus and oil price crash: read our latest insights
Oil price crash eases burden for Chinese LNG offtakers facing weak demand
Mozambique’s Rovuma LNG hits FID setback: ExxonMobil withdraws from US$2 billion US export credit agency loan
Weak Lira hits Turkish gas demand, imports in 2019, but LNG up
Russian NOVATEK announces 2019 results and future plans
Qatar Petroleum secures EVEN MORE European LNG capacity
UK’s South Hook terminal looks to expand capacity ahead of Golden Pass start up
Spain regulator to create virtual LNG hub
Qatargas and Shell gradually secures Kuwait’s LNG market
Coronavirus to further depress global LNG markets
Open and shut case for Bahrain LNG terminal
Cheniere reaches 1000th cargo milestone in record time
LNG imports hit record levels in most European markets in 2019
McDermott reports progress on the second trains at Freeport and Cameron LNG
- Two announcements by McDermott in December 2019 show progress at both Freeport and Cameron LNG.
Kuwait’s KPC signs 3 mmtpa contract with QP
Burst of LNG ship orders closes a record decade
NLNG sanctions Train 7
Golar wins a power purchase agreement for an LNG to power project in Brazil
- Petrobras starts the process of leasing the LNG TRBA regas terminal
Fully-booked capacity at Montoir demonstrates high demand for Europe regas
PGNiG plans to expand small-scale LNG offering
Equatorial Guinea awards Fortuna block to LUKOIL and signs strategic partnership with Vitol
Qatar Petroleum ups LNG expansion plans to 48 mmtpa
FERC authorization news
Scarborough and Pluto Train 2 update
Woodside increases Scarborough reserves by 52%, hits 11 tcf
New gas consortium to supply Angola LNG
Kosmos Energy and BP make major gas discovery offshore Mauritania
Romania could take stake in new Greece LNG importing terminal
RusGazDobycha chooses EPC contractor for Baltic сhemical complex
- ConocoPhillips to sellnorthern Australia assets including Darwin LNG to Santos
Uniper appetite for LNG builds as it signs HoA with Woodside
Tellurian and Petronet sign MOU for potential 5 mmtpa equity investment in Driftwood LNG
JGC-Fluor-TechnipFMC sign Rovuma LNG EPC in Mozambique
New coal policy proposal could boost South Korea LNG demand
Total concludes Mozambique LNG entry as US EXIM approves US$5bn loan to project
Kosmos' Yakaar appraisal firms up resources for further LNG development
Vitol and Mozambique NOC form LNG trading JV
Russian Ministry of Finance to support Baltic LNG
LNG agreements dominate Russia’s 5th Eastern Economic Forum
Freeport LNG Train 1 ships first cargo while expansion project Train 4 raises $1 bn
Panama regas project charters GasLog ship for 10 years as an FSU
Russia's Arctic LNG-2 announces FID
Arctic-2 will be first LNG project to use ships built in Russia
PNG green lights Papua LNG, introduces new fiscal regime
Qatar takes all of Belgium's regas capacity ahead of LNG expansion
Shell makes a move into the Australia power market with potential implications for Queensland Curtis LNG
Magic potion or Vitalstatistix fuel LNG shipping market?
NOCs increase share in Greater Tortue Ahmeyim field in Mauritania/Senegal
NOVATEK starts tender process for Obskiy LNG
Osaka Gas becomes first Asian LNG toller to operate gas production in the US
Indonesia’s Tangguh Expansion delayed by a year
Rovuma LNG in Mozambique seeks revised EPC bids
Indonesia approves Abadi LNG revised Plan of Development
Summer season gets into full swing as Yamal exports 250 th cargo
Taiwan LNG imports fall in first half of 2019
Tellurian signs definitive agreements with Total for investment and offtake at Driftwood LNG
First cargo of the season heads to Asia via the NSR as Yamal LNG produces above capacity in first half of 2019
Mitsui and JOGMEC to get 10% in Russian Arctic LNG-2
Pacific Oil & Gas announces first firm SPA with BP for LNG from Woodfibre
Pavilion Energy takes over Iberdrola's LNG business
Hong Kong offshore LNG terminal locks in supply and FSRU chartering
First deal at Commonwealth LNG with Gunvor HOA, Venture Global increases PGNiG sales
Panama Canal toll to go up for LNG vessels in 2020 (but not by as much as for some other vessel types)
Anadarko and partners take FID on Mozambique LNG
INPEX and Government of Indonesia agree next steps for Masela PSC
Shell delivers first LNG cargo from Prelude
PSC amendment opens the door for Aphrodite in Cyprus
Cheniere announces FID on Sabine Pass Train 6
Total increases its US LNG exposure with acquisition of Toshiba capacity at Freeport Train 3
Bulgaria accesses cheaper gas through LNG imports
Yudean imported first cargo via third-party access - China's terminals opening up
NOVATEK plans new Obski LNG plant on Yamal peninsula
NOVATEK selects TechnipFMC as EPC contractor on Arctic LNG-2
Total steps into Mozambique LNG (Area 1)
Mozambique's Rovuma LNG (Area 4) Development Plan approved
JERA-CPC sign up for Mozambique LNG volumes and project sets FID date
ExxonMobil signs a 20 year 1 mmtpa SPA with Zheijang Energy
Chinese players buy 20% in NOVATEKs Arctic LNG-2
Qatar Petroleum tenders for 100+ LNG ships
Russian LNG plant inaugurated in Baltic
Chevron's acquisition of Anadarko – What does it mean for Chevron's LNG position?
Papua LNG JV signs gas agreement with the PNG Government
Toshiba sale of its US business to ENN falls through
Noble Energy sanctions Alen gas project to backfill Equatorial Guinea LNG
Ocean LNG sign SPA with Golden Pass for entire 16 mmtpa output
Baltic LNG dealt blow as Shell exits Gazprom project
Review of LNG19 in Shanghai contracting activity – April 2019
- New LNG contracts announced ..but US-China deals a notable absentee
- Shell – Signs Brent-indexed SPA for 2 mmtpa from Next Decade's Rio Grande LNG
- Total – Increases equity stake both in Tellurian and Driftwood and procures 1.5 mmpta offtake
- Total - Signs 10-year SPA with Guanghui
- Shell-Tokyo Gas - Fight coal with coal-linked contracts in Japanese power struggle
- Woodside - Signs HOA with China’s ENN Group to underpin Scarborough development
- NOVATEK - Signs two HOAs from portfolio, including from Arctic LNG-2
- PNG LNG – Signs SPA with Unipec Singapore (subsidiary of Sinopec)
- JERA contract LNG Canada volumes from Mitsubishi subsidiary
NOVATEK commissions Vysotsk LNG (0.66 mmtpa)
Mozambique LNG (Area 1) takes major step towards FID after signing SPAs with CNOOC, Tokyo Gas-Centrica and Shell
NOVATEK sign deal with Siemens to provide compressor units for Arctic LNG-2
ExxonMobil backs German LNG project with non-binding capacity booking
Time is up for Ophir on Fortuna FLNG
Mozambique Area 4 partners advance LNG marketing

Tables and charts

This report includes 75 images and tables including:

NFE commercial structure
PGNiG contracted LNG volumes vs our forecasted Polish LNG Demand

India's LNG import per year by supply countries
South Korea contract volume by sign year and buyer type
Design capacity at FID of largest LNG project sanctions (year sanctioned)
JERA 2022 long-term contracted volume by SPA sign date
Contracting Status of Pre-FID US Capacity
Gate's capacity
SK320 and Pegaga field
Taiwan LNG import terminals
Barossa project CO2 emissions without CCS
Prelude quarterly LNG output annualised
Santos Barossa capital expenditure profile
Manatee field location
PFLNG location
EG LNG quarterly output
Teekay LNG charter obligations by shipping capacity
P’nyang Area
Northwest Europe daily LNG sendout
Charter agreements for newbuild LNG vessels by company
Kuwait gas infrastructure map
Cargoes to China diverted since 10 May 2021
Argentina’s LNG demand forecast in 2021 by terminal
JV contract expiry dates and current partner involvement at QatarGas trains (shows QP portfolio if no contracts renewed)
Australian proposed regas terminals
Comparison of Rio Grande LNG CCS costs*
Argentina’s LNG Imports forecast vs. IEASA's first LNG tender
Regas capacity holders at the Krk LNG terminal
LNG bunker activity in Asia (open image in new tab for better view)
Gas Agility fuels giant containership with LNG in Rotterdam
Singapore LNG Supply-Demand Balance
Post FID contracted capacity
Cheniere Post FID contracted volumes v capacity
South Korea vs. India monthly LNG imports
Golden Pass LNG at ~18 months post FID
Sabine Pass Phase 1 LNG at ~18 months post FID
Terryville assets, North Louisiana
Gorgon LNG output forecast
Satellite and infra-red view of Gorgon LNG
US LNG feed gas vs. capacity
Capacity at Krk LNG terminal (2020-2030)
Yamal LNG exports by initial destination*
Monthly LNG imports in Argentina
Arctic LNG-1 timing
European storage fill requirements for summer 2020
Short-term LNG supply - impact and what to watch
Delivered cost to Shanghai city gate at different Brent price scenarios
Gas Imports to Turkey 2018 - 2019
TYR vs. USD$ and RUS
QP's European regas position
Contracted regas capacity in Europe by company
Sabine Pass and Corpus Christi exports by destination
Gross LNG imports - 2019 and previous maximum level
LNG import seasonality (2014-2018)
Europe monthly LNG send-out
EG LNG output and Plant Capacity (mmtpa)
Table 1: Impact on partner shares in Tortue in Senegal, Mauritania and Total GTA Area
Table 2: Impact on partner NPVs in Tortue Phase 1, 2 & 3 from increased NOC share
US LNG exports by destination
Yamal LNG exports by destination
Yamal LNG first 250 exports by initial destination
Taiwan LNG imports by source
Yamal LNG exports by initial destination
Yamal LNG exports by final destination
Yamal LNG exports by final destination
Panama Canal LNG Transits (laden + ballast)
Capex ($/tonne) and capacity (mmtpa) of LNG plant by year of project sanction
New ship requirements from Qatar megatrains expansion
New ship requirements from Golden Pass
Combined Chevron-Anadarko Operated LNG Capacity
Mozambique LNG (Area 1) Contracts
McDermott's LNG backlog