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Zawya
6 days ago
- Business
- Zawya
Qatar LNG exports' surge boosts GECF output in May
Qatar - LNG exports by GECF member countries and observers got a boost in May driven mainly by Qatar, Gas Exporting Countries Forum said in its latest monthly report. The surge in Qatar's LNG exports was supported by reduced maintenance activity compared to a year earlier, and production exceeding the facility's nameplate capacity, GECF noted. LNG exports by GECF member countries and observers got a boost in May driven mainly by Qatar, the Gas Exporting Countries Forum said in its latest monthly report. The surge in Qatar's LNG exports was supported by reduced maintenance activity compared to a year earlier, and production exceeding the facility's nameplate capacity, GECF noted. In May, LNG exports from GECF member and observer countries jumped by 8.9% (1.31mn tonnes) y-o-y, reaching 16.11mn tonnes, which is a record high for the month. The stronger LNG exports came mainly from Qatar, Nigeria, Trinidad and Tobago and Angola, which offset weaker LNG exports from Malaysia and Algeria. Between January and May this year, GECF LNG exports increased marginally by 1% (0.79mn tonnes) y-o-y, reaching 82.40mn tonnes. In May, global LNG exports continued to grow sharply, rising by 8% (2.61mn tonnes) y-o-y to reach 35.1mn tonnes. This marked the 10th consecutive monthly year-on-year increase in LNG exports. Higher LNG exports from both GECF and non-GECF countries drove the overall growth, offsetting a decline in LNG re-exports, the report noted. Between January and May, global LNG exports increased by 5% (8.67mn tonnes) y-o-y to reach 180.91mn tonnes, primarily supported by non-GECF exporters, while exports from GECF countries and LNG re-exports grew to a lesser extent. Non-GECF countries were the largest LNG exporters globally in May 2025, with a market share of 54%, followed by GECF countries at 45.9% and LNG re-exports at 0.1%. Compared to May 2024, the market shares of non-GECF and GECF countries increased from 53.6% and 45.6%, respectively, while the share of re-exports declined from 0.8%. 'The US, Qatar and Australia were the top three LNG exporters in May,' GECF said. In May, global LNG imports jumped by 6.9% (2.25mn tonnes) y-o-y to reach 34.75mn tonnes, marking a record high for the month. Europe continued to drive the growth in global LNG imports, followed by a smaller contribution from the Mena region, while Asia Pacific's LNG imports remained subdued. The stronger netback for US LNG delivered to Europe, compared to Asia Pacific, along with weak LNG demand in the Asia Pacific region, supported the continued strong flow of US LNG into Europe. From January to May, global LNG imports totalled 181.66mn tonnes, reflecting a y-o-y increase of 4.2% (7.36mn tonnes), primarily driven by higher European imports. In May, the Mena region's LNG imports surged by 94% (0.79mn tonnes) y-o-y, reaching 1.6479mn tonnes, driven mainly by Egypt and Kuwait. Between January and May, the Mena region's LNG imports doubled, increasing by 2.65 Mt to reach 5.3479mn tonnes. Increased LNG imports in Egypt have compensated for declining domestic gas availability to meet its gas demand. Furthermore, higher gas demand has boosted Kuwait's LNG imports, GECF noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Khaleej Times
17-06-2025
- Business
- Khaleej Times
Israel-Iran conflict: Which energy sites are impacted by air war so far?
[Editor's Note: Follow the KT live blog for live updates on the Israel-Iran conflict.] Military strikes between Iran and Israel have prompted concern about potential damage and disruption to the region's important oil and gas fields and infrastructure. Below are details about these sites and about how they have been affected so far: South Pars gas field Israel struck an installation at the South Pars offshore gas field on June 14 where Iran has partially suspended production. South Pars is part the world's largest natural gas reserve, which Iran shares with Qatar. The attack struck four units of Phase 14 of South Pars, around 200 kilometres from Qatar's installations, many of which are joint ventures with international firms, including U.S. giants ExxonMobil and ConocoPhilips. South Pars makes up around a third of the world's largest reservoir of natural gas. Iran shares the reservoir with major gas exporter Qatar, which calls its field the North Dome. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Sanctions and technical constraints have meant most gas Tehran produces there is used domestically but it also exports some. Iran exported about 15.8 billion cubic metres of gas in 2023, according to data by the Gas Exporting Countries Forum, a grouping of gas exporter nations. The entire reservoir contains an estimated 1,800 trillion cubic feet of usable gas - enough to supply the world's needs for 13 years, or to generate enough electricity to supply the U.S. for more than 35 years. Tehran fuel depot and oil refinery Israel struck a Tehran fuel depot and an oil refinery near the capital on June 14, Iran said, but authorities said the situation was under control. Haifa oil refinery Israel's Bazan Group shut down its Haifa oil refinery, the country's largest, on June 16 after its power station was damaged in an Iranian attack. The refinery has a crude processing capacity of 197,000 barrels per day (bpd). Iran's oil Iran is OPEC's third-largest oil producer and extracts about 3.3 million bpd of crude oil, and another 1.3 million bpd of condensate and other liquids, totalling about 4.5% of global supplies. Its exports in recent months have reached 1.8 million bpd, their highest level since 2018, data from Kpler showed, driven by strong Chinese demand. Iran's production facilities are primarily in the southwest, in Khuzestan province, and in Bushehr province for gas and condensate from South Pars. It exports 90% of its crude via Kharg Island. The US tightened sanctions on Tehran in 2018 after US President Donald Trump exited a nuclear accord. Analysts have said that oil prices could surge to over $100 a barrel due to the Israel-Iran air war, even though there is plentiful spare capacity and ample storage. Iran's oil exports fell to nearly zero but rebounded under US President Joe Biden, with analysts saying sanctions were less rigorously enforced and Iran succeeded in evading them. Iran is exempt from OPEC+ output restrictions and China does not recognise the sanctions imposed on Tehran, meaning some Chinese private refiners have been placed on the U.S. Treasury's sanctions list. Analysts say Saudi Arabia and other OPEC members could compensate for any drop of Iranian supply by using their spare capacity to pump more.
Zawya
05-05-2025
- Business
- Zawya
Led by Qatar, GECF accounts for 47% of LNG cargo exports so far in 2025
Qatar - Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. In March, some 577 LNG cargoes were exported globally, Gas Exporting Countries Forum said in its Monthly Gas Market Report. This represents an increase of 19 shipments compared to a year ago, GECF noted. Moreover, the number of shipments rebounded in March 2025, by 14% when compared with the total in the previous month. After the first quarter of 2025, total export cargoes reached 1,641, which was similar to the level reached during the same period in 2024. For the January to March period, the US exported some 39 more cargoes than in 2024, followed by Indonesia with 14. According to GECF, there was a slight uptick in the level of spot charter rates, although the shipping market remains depressed. In March this year, the monthly average spot charter rate for steam turbine LNG carriers climbed by 40% m-o-m to reach $700 per day. In March 2025, the average price of shipping fuels decreased by 4% m-o-m, to reach $520 per tonne. Compared with one year ago, this average price was 16% lower y-o-y, and was also 6% lower than the five-year average price for that month. In March 2025, the LNG spot shipping costs for steam turbine carriers decreased further, by up to $0.11/MMBtu on certain routes. This was driven by the small uptick in the average LNG carrier spot charter rate, which was outweighed by the impact of the decreases in the delivered spot LNG prices and the cost of shipping fuels, when compared with the previous month. Compared to one year ago, in March 2025, the monthly average spot charter rate and cost of shipping fuels were both lower, while the delivered spot LNG prices were higher. As a result, LNG shipping costs were up to $0.48/MMBtu lower than in March 2024. In March 2025, global LNG exports surged by 9.8% (3.50mn tonnes) y-o-y to reach a monthly record of 39.23mn tonnes, marking the highest annual growth rate since June 2021. The increase was supported by higher exports from both GECF and non-GECF countries, along with a rise in LNG re-exports. For the period Q1, 2025, global LNG exports rose by 3.9% (4.11mn tonnes) y-o-y, reaching 110.65mn tonnes driven primarily by higher exports from non-GECF countries. The share of non-GECF countries in global LNG exports edged up from 52.2% in March 2024 to 52.8% in March 2025. Likewise, the share of LNG re-exports increased from 0.4% to 1.2% over the same period, while the share of GECF Member Countries declined from 47.4% to 46%. The US, Qatar and Australia were the top three LNG exporters in March, GECF noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
18-03-2025
- Business
- Zawya
Qatar set to drive Mideast LNG exports; 27% region's share of global supply by 2050: GECF
Qatar - An LNG tanker passes boats along the coast of Singapore. LNG exports are projected to expand significantly over the next three decades, the HECF has said in its 'Global Gas Outlook 2050'. The Middle East region is expected to increase its LNG exports by approximately 106mn tonnes, accounting for 27% of the global LNG supply by 2050, GECF said and noted Qatar will mainly drive the region's gas exports during the forecast period. LNG exports are projected to expand significantly over the next three decades, the Gas Exporting Countries Forum has said in its 'Global Gas Outlook 2050'. The number of LNG-exporting countries is expected to rise from the current 22 to 27 by 2050, leading to a more diversified supply landscape, with North America emerging as the dominant LNG-exporting region by mid-century. The Middle East is set to follow closely behind North America, with its share of global LNG exports projected to reach 25% by 2050, compared to 24% in 2023. Qatar, already a leading LNG exporter, is expanding its liquefaction capacity through the North Field East and North Field South projects, while the UAE and Oman are ramping up production to meet growing global demand. These investments will further strengthen the Middle East's position as a key LNG supplier, particularly to Asia Pacific and Europe, reinforcing its strategic importance in the evolving global LNG market. Qatar aims to nearly double its LNG production capacity, increasing output by approximately 85% from the current 77Mtpy to 142Mtpy by 2030. This ambitious growth, led by the North Field Expansion project, will be implemented in three phases – through the North Field East (NFE), South (NFS), and West (NFW) expansion projects – and could contribute to a global oversupply later in the decade. 'This significant expansion will underpin Qatar's continued and sustainable economic growth, aligning with the Qatar National Vision 2030,' GECF said. GECF noted Qatar remains the dominant player in the Middle East's midstream gas sector. With the North Field East (NFE) and North Field South (NFS) expansion projects, Qatar is set to significantly increase its LNG export capacity by 65Mtpy, bringing the total to 142Mtpy by the early 2030s. The NFE project, valued at approximately $29bn is expected to commence operations by 2026, while the NFS project, estimated at over $14bn will follow shortly thereafter. In 2023, some 12 of the 20 LNG suppliers were GECF member countries, collectively supplying 193Mt of LNG and meeting 47% of global LNG demand. LNG trade is poised for significant growth among GECF member countries over the forecast period. This trend is driven by financial and technological advancements, making LNG more accessible to new consumers. As global natural gas demand increases, LNG is emerging as a strategic commodity, influencing the political and economic landscapes of gas-producing countries. Projections indicate that LNG exports from GECF member countries will reach approximately 445Mt by 2050, accounting for 56% of global LNG exports. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
12-03-2025
- Business
- Zawya
Qatar's natural gas output to reach 244bcm in 2030: GECF
Qatar's natural gas production is expected to reach 244bcm in 2030 and grow to 300bcm by 2050, Gas Exporting Countries Forum (GECF) has said in its Global Gas Outlook 2050. The focus on expansion and sustainability reflects Qatar's strategic approach to energy development, balancing growth with responsible resource management, Doha-headquartered GECF said in its 'Global Gas Outlook 2050', which was released here on Monday. Qatar's natural gas demand is projected to grow by 22bcm, reaching 71bcm by 2050, with an annual growth rate of 1.4%. Expanding LNG export production capacity and energy sector-related needs primarily drive this increase, GECF said. Qatar's production stood at 169bcm in 2023, adding 4bcm primarily from the Barzan project, GECF noted. According to GECF, Qatar's strategy focuses on expanding its LNG capacity, with gas production projected to reach 300bcm by 2050. This significant growth requires massive investments toward the North Field Expansion Project, the world's largest natural gas reserve. These efforts aim to solidify Qatar's position as a leading LNG exporter to Asia and Europe, strengthen its energy security, and align with global energy transition goals. Qatar's stable investment environment, strengthened by long-term contracts and established market access, further supports its growth as a reliable supplier in global energy markets. Qatar is also diversifying its gas use by investing in fertiliser production and low-carbon gas-based solutions, including the Ammonia-7 blue ammonia project, expected to begin operations in 2026. However, gas demand in power generation is expected to see only modest growth, GECF noted. Qatar aims to install 4GW of large-scale solar PV capacity by 2030, reflecting its commitment to renewable energy. GECF noted the Middle East's long-term average annual growth rate is projected to reach 3% by 2050, reflecting a moderate slowdown compared to the historical average of 3.7% between 1996 and 2023. This deceleration is influenced by the maturing economies of key oil and gas exporters, including Qatar, Saudi Arabia, and the UAE, which are expected to collectively account for over 55% of the region's GDP through mid-century. Long-term growth rates for these countries are forecasted at 3%, 3.2%, and 3.4%, respectively, signalling a gradual easing of economic momentum as these economies transition from reliance on hydrocarbons to more diversified economic models. According to the outlook, the Middle East is positioning itself as a global leader in blue hydrogen production, leveraging its proximity to extensive natural gas reserves. This strategic focus not only enables the production of low-carbon hydrogen but also fosters the establishment and expansion of hydrogen markets. By 2050, 14% of the total incremental gas use in the region is projected to be associated with low-carbon hydrogen production. State-owned companies and government funding are driving the development of hydrogen projects, supported by advancements in CCUS technologies. These initiatives will ensure the long-term viability of the natural gas sector while contributing to global decarbonisation goals, GECF noted. Across the region, growing demand for natural gas in industry and power generation is expected to account for 57% of the total growth, or an additional 163bcm by 2050. As an energy source and feedstock, industrial gas use is set to play a pivotal role, adding 83bcm over the forecast period. Expanding gas-to-chemicals, petrochemicals, fertiliser production, and light manufacturing industries will drive this growth. 'Natural gas is expected to remain integral to powering water desalination through cogeneration facilities or membrane technologies reliant on electricity,' GECF said in its latest gas outlook. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
