LNG Projects Boom, Including Floating Plants (FLNG)/America Begins LNG Exports

One way to distribute natural gas to high-demand markets like China and Japan is through LNG (liquefied natural gas). Also, the recent war in Ukraine led to sanctions against Russia and a cutback in Russia’s flow of vital natural gas into EU markets. LNG has the ability to provide much of the EU’s energy needs. However, due to the necessity of special handling, bringing that supply to market in major quantities requires advanced technologies and huge capital outlays. First, the natural gas must be chilled to minus 259 degrees Fahrenheit, in order for it to change into a liquid state. Next, the LNG is put on specially designed ships where extensive insulation and refrigeration maintain the cold temperature. Finally, it is offloaded at special receiving facilities where it is warmed and converted back into a gaseous state (“gasification”) suitable for distribution via pipelines.

Qatar is a world leader in the supply of LNG. The global LNG market includes two significant firms in Qatar: Qatargas and RasGas. This is due to Qatar’s ownership of one of the world’s largest conventional natural gas reservoirs, the offshore North Field. Qatar also welcomes foreign oil and gas firms, especially ExxonMobil, which owns the RasGas gas liquefaction facility there in partnership with Qatar Petroleum. Qatar’s largest LNG markets include Japan, India and South Korea. In 2022, the country launched a $28.75 billion project to expand LNG export capacity from its North Field East by 60% by 2027. QatarEnergy signed a joint venture agreement with Eni to boost capacity from 77 million tons per annum to 110 million tons, with QatarEnergy holding 75% interest and Eni the remaining 25%.

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LNG Projects Boom, Including Floating Plants (FLNG)/America Begins LNG Exports, Business and Industry Trends Analysis

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