Royal Dutch Shell (Shell) dominated the global long-term LNG import contract volumes signed by key purchasing companies in 2022, with a contracted capacity of 6.7 million tonnes per annum (mtpa), according to GlobalData, a leading data and analytics company.
GlobalData’s report, “Long-Term LNG Contracts Review Analytics by Region, Contracts and Companies, 2022,” reveals that the biggest long-term contract signed by Shell in 2022 was with Mexico Pacific Limited LLC to procure 2.6 mtpa of natural gas.
ENN Group occupied the second place by signing contracts for a capacity of 3.3 mtpa, while Chevron and ExxonMobil entered into contracts to import 3.0 mtpa of LNG each.
Oil and Gas Analyst at GlobalData, Himani Pant Pandey, comments: “Energy companies are bullish about long-term LNG demand due to decarbonisation efforts and the role of natural gas as a bridge fuel for the energy transition.
“The signing of long-term contracts also helps companies to hedge against volatile LNG prices and ensures guaranteed supply.”
Among the seller companies, Venture Global LNG signed the highest long-term LNG contract volumes with a total of 11.0 mtpa. Energy Transfer Partners LP and NextDecade Corporation follow with 7.9 mtpa and 6.3 mtpa, respectively.
Himani concludes: “Companies from the US such as the Venture Global LNG have led the signing of the long-term LNG contracts in 2022, as the country is witnessing significant liquefaction capacity additions creating ample opportunities for exports.
Energy companies are bullish about long-term LNG demand due to decarbonization efforts and the role of natural gas as a bridge fuel for the energy transition.
