Liquefied Natural Gas (LNG) is gradually becoming more popular and demand for it is on the rise just like that of crude oil. The increase in its demand has attracted more producers into the sector while some players focus on LNG-related technology to get there share of the boom. Our focus in this article would be on the top ten LNG exporting countries.
Top Ten LNG Exporting Countries
Below are the top ten LNG exporting countries according to the metric tonnes they produce and export.
QATAR
With annual production capacity of over 77 million tonnes, Qatar is the world’s largest LNG producer and exporter. The state-owned company, Qatargas was established in 1984 primarily to develop, produce, and markets hydrocarbons from the world’s largest non-associated natural gas field.
Furthermore, early 2018, Qatargas merged with RasGas to become one of the topmost global energy companies. The company has a fleet of 25 purpose-built conventional vessels, each with a capacity of between 135,000 and 152,000 cubic metres.
Australia
With an average of 44.3 million tonnes gas production per annum, Australia is the world’s second largest LNG producer and exporter. Its production capacity is likely to increase as the demand from Asia increases.
Also, the country has the potential to topple Qatar in the near future. The country’s onshore LNG discoveries in Queensland would also help boost the nation’s energy export.
Malaysia
In partnership with Petronas, Shell BV and Mitsubishi, Malaysia LNG Company is in charge of the Malaysian LNG since its inception in 1978. MLNG has the capacity to produce 24 million tonnes of LNG yearly.
It has about six LNG storage tanks and another one under construction. With more than 25 years experience in the LNG business, MLNG has established a good reputation with its customers in Japan, Korea, Taiwan and China.
Nigeria
With six trains currently operational, NLNG’s plantis capable of producing 22 Million Tonnes Per Annum (MTPA) of LNG. Nigeria LNG Limited is the largest LNG exporter in West Africa.
NLNG is aiming at increasing its production to 30 million metric tonnes per annum (MTPA) of LNG at the completion of its seventh train.
Nigeria LNG is owned by four shareholders including the Nigerian government, Shell, Total Gaz Electricite Holdings and Eni. Their shareholdings are 49, 25.6, 15 and 10.45 respectively.
Indonesia
Indonesia produces about 16.6 million Metric tonnes of LNG yearly. Currently experiencing decline in production since 2011, the country’s domestic demand for LNG is increasing and this posses great threat to its export rate.
Data from 2015, 2018 and 2017 show that the country produces 76.2, 70.7 and 68 billion cubic meters of natural gas respectively.
Algeria
Algeria is sixth among the top ten LNG exporting countries. With the capacity of producing about 11.5 million tonnes per annum, the country’s economy is currently better than its previous state.
The country is the largest LNG exporter in Africa and has investments that can boost future production and development.
Russia
Russia’s annual LNG export is about 10.8 million tonnes, most of which go to Austria, Denmark, France and Germany.
Also, Italy, Netherlands, Switzerland, Turkey, United Kingdom, Bulgaria, Czech Republic, Hungary, Poland, Serbia, Slovakia import LNG from Russia. Yamal, an LNG producing firm jointly owned by Russia and China, oversees gas production and export in the country.
Trinidad &Tobago
Trinidad and Tobago Atlantic LNG Company produce and exports more than 10 million tonnes of LNG yearly. Established in 1995, the company started operating in 1999 and has since been making waves as it exports gas across the Atlantic Ocean to Europe.
Atlantic operates and manages four (4) LNG Trains. Each of them ultimately owned by a holding company, comprised of different Member companies.
Oman
Oman has a production capacity of 8.1 million tonnes of LNG annually. The country’s LNG company, Oman Liquefied Natural Gas LLC is a government-owned gas Production Company that oversees production and export of LNG. In collaboration with Qalhat LNG
Oman LNG operates three liquefaction trains – at its site in Qalhat near Sur, with a nameplate capacity of 10.4 million tonnes per annum (mtpa). Also, it currently exports LNG to Korea Gas Corporation (KOGAS) and Osaka Gas of Japan.
Papua New Guinea
Papua New Guinea is one of the top ten LNG exporting countries producing about 7.1 million tonnes of LNG. However, her LNG production and export are managed by Exxon Mobil PNG Limited. Currently, there is an ongoing $19billion project with onshore and offshore pipelines in PNG to help boost its economy. The operation began in 2014, and by 2016; it produced 7.9 million tonnes of LNG.
Economic Benefits of LNG
LNG exporting countries earn money from LNG exports hence, boosting their GDP. Also, producing countries are attracting more foreign investments to their economy, thereby securing future development.
Also, investment in LNG enhances employment growth in LNG producing countries. Many employment opportunities will spring up, and this will give rise to Tax Revenue Growth. The more money exploration companies make, the more tax they pay to host countries
Exporting LNG is not only boosting the domestic economy but also, promoting greener Environment. In reality, LNG exporters are promoting a healthier environment because LNG has the best safety record of all common fuel types
Also, the demand for LNG is growing, and this creates more business opportunities in the energy sector. The industry doesn’t just attract producers but also, service providers that are helping in diverse areas. An upcoming market, such as the LNG offers several economic benefits to both importers and exporters.