The biggest long-term LNG (liquefied natural gas) contract signed in 2019 was between Golden Pass Products Llc and Ocean LNG Limited on 1 April 2019.
Long-term LNG contract
According to the contract, Golden Pass Products will supply 15.6 million tonnes per annum (mtpa) of LNG for a period of 20 years, from 2024, to Ocean LNG Limited.
LNG will be supplied from the Golden Pass II LNG liquefaction terminal in Texas, US. Among regions, in 2019, around seven LNG contracts were signed for the export of LNG from North America. Africa signed about eight long-term LNG contracts – all by Mozambique LNG 1 Pte Ltd – and the remaining contract was signed from Oceania.
Country-wise, US leads in terms of LNG export contract volumes signed in 2019 with 22.3 mtpa, followed by Mozambique with 9.7 mtpa. Abundant shale gas production in the US has enabled the country to export natural gas as LNG to global markets.
Golden Pass Products Llc had the highest LNG contract volumes among seller companies in 2019 with 15.6 mtpa or 47 per cent of the total volumes.
Mozambique LNG 1 Pte Ltd followed with 9.7 mtpa or 29 per cent of the total volumes. Driftwood LNG Llc was third with a contracted capacity of 2.5 mtpa or 8 per cent of the total volumes
LNG contracted capacity and share signed by key seller companies in 2019 vis-à-vis 2018
Source: Midstream Analytics, GlobalData Oil and Gas © GlobalData
With respect to purchaser companies, Ocean LNG Limited led the contracted capacity among LNG buyers in 2019 with a 47 per cent share or 15.6 mtpa. Royal Dutch Shell Plc followed with a share of 12 per cent or 4.0 mtpa. Total Gas & Power North America Inc had an 8 per cent share or 2.5 mtpa of the total LNG contracted capacity in the year.