A major component of the world’s energy mix
Despite the recent challenges faced by the global economy, the LNG market has been going from strength to strength with worldwide LNG export capacity growing 48% over the past 4 years. No longer dominated by a few niche locations, it has become a truly global commodity with new liquefaction and regasification facilities coming online every year all over the world, with yet more planned for the near future. LNG has proven itself to be a flexible, cost-efficient and clean fuel, and its significance in the world’s energy mix is set to grow even further.
Exciting new markets for LNG have emerged and are firmly establishing themselves on the global energy map – Dubai, Kuwait, Argentina have all shown exceptionally strong demand and will continue to expand gas consumption over the coming years. The vast and rapidly growing Chinese and Indian economies are revealing an insatiable appetite for energy and have embraced LNG as one of the pillars of their energy supply portfolio. Work is progressing on new terminals in Poland, Cyprus, Croatia, Aruba, Brazil, Uruguay, Indonesia and Thailand.
Growth in Supply
The past few years have seen some momentous milestones reached by LNG producers – Qatar has completed the last of its mega-trains and has reached their target production of 77 million tonnes per annum of LNG. The Sakhalin II project in Russia is fully online and producing above nameplate capacity, opening up a new supply source for the major Asian markets. In Australia, the first phase of Pluto LNG is nearing completion with more giant liquefaction projects under development on the continent.
GM&T in the picture
Gazprom has built on its traditional natural gas pipeline business to become an integrated and global energy company. Likewise, the Gazprom Marketing & Trading Group has become a key player in LNG, through its 100% subsidiary Gazprom Global LNG. Through its exceptional commercial team with operations in London, Singapore and Houston the company has established itself as the world-class LNG marketing, shipping and trading entity of the Gazprom Group. Gazprom Global LNG is the sole aggregator of Gazprom’s Russian and non-Russian LNG flows via its two legal entities; both 100%-owned affiliates of Gazprom, Gazprom Global LNG Limited (UK-registered) for Atlantic markets and Gazprom Marketing & Trading Pte Limited (Singapore registered). The LNG portfolio consists of a long-term contract from Sakhalin II, third-party spot/mid-term supplies, multiple LNG vessels on charter and access to regasification capacity and customers across the world. Now capable of leveraging its expertise in global LNG, shipping and natural gas markets, GM&T is at the forefront of the already established but still rapidly growing global LNG industry.
GM&T’s Shipping & Logistics department ensures that the company had control over competitive, flexible and safe shipping that enable GM&T to further optimize its growing global LNG portfolio in a challenging shipping market environment. Working together with Russian shipbuilders and the Maritime Academy in St. Petersburg, GM&T is laying the foundations for further LNG shipbuilding and operations development in Russia and worldwide.
Contacts for further information:
Gazprom Global LNG Team