Latest news with #InternationalGasUnion
See - Sada Elbalad
5 days ago
- Politics
- See - Sada Elbalad
Turkish Ambassador to Cairo Congratulates Egypt on IGU Presidency Election
Rana Atef On Tuesday, the Turkish Ambassador to Cairo, Salih Mutlu Şen, congratulated Egypt on its election to the presidency of the International Gas Union (IGU). The Turkish Ambassador posted on X, "I congratulate Egypt on its election to the presidency of the International Gas Union (IGU) also with Türkiye's support among others." I congratulate Egypt on its election to the presidency of the International Gas Union (IGU) also with Türkiye's support among others. I am confident that our cooperation, which serves our mutual interests in the fields of natural gas and LNG, will continue to deepen and expand,… — Salih Mutlu Şen (@TurkishCairoAmb) June 23, 2025 He added, "I am confident that our cooperation, which serves our mutual interests in the fields of natural gas and LNG, will continue to deepen and expand, gaining further strength from Egypt's IGU presidency." read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
Egypt Assumes Vice Presidency of International Gas Union
Nada Mustafa Khaled Abu Bakr, Chairman of Egyptian Gas and Energy Society, announced that Egypt has officially assumed the position of Vice President of the International Gas Union (IGU), a historic milestone since the Union's establishment in 1931 in United Kingdom (UK). According to the announcement, Egypt is set to assume the IGU presidency for the upcoming 2028–2031 term, making it the first African country to represent the continent in this prestigious role within the leading global body dedicated to the natural gas industry. This development marks a significant diplomatic and industrial achievement for Egypt, reinforcing the country's growing influence in the global energy market and affirming its regional and international leadership in the natural gas sector. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Zawya
17-06-2025
- Business
- Zawya
QatarEnergy LNG remains at 'forefront' of rising global vessel capacities: IGU
QatarEnergy LNG remains at the 'forefront' of rising vessel capacities (globally), ordering 24 new 271,000 cm (QC-max) vessels from China for delivery between 2028 and 2031, according to the International Gas Union (IGU). Globally, some 337 LNG vessels were under construction as of end-2024, IGU said in its '2025 LNG World Report'. Of the 64 newbuilds delivered in 2024, all have a capacity of between 174,000 and 200,000 cm. Vessels of this size remain within the upper limit of the Panama Canal's capacity following its expansion in 2016. They also benefit from economies of scale, particularly as additional LNG capacity is developed in the US Gulf Coast (USGC) for long-haul delivery to Asia, IGU noted. Moving forward, 200,000 cm vessels, or larger, could find favour due to their economies of scale for long-haul voyages, especially for long-term charters, if some flexibility is maintained (Panama Canal, terminal compatibility, etc). The current orderbook for such ships comprises 37 vessels, each with a capacity of either 200,000 cm or 271,000 cm, scheduled for delivery between 2025 and 2031. The global LNG orderbook had 337 newbuild vessels under construction at the end of 2024, equivalent to 45.4% of the current active fleet, with deliveries stretching into 2031. This illustrates shipowners' expectations that LNG trade will continue to grow in line with scheduled increases in liquefaction capacity, particularly from the US and Qatar, and fleet renewal demand from oncoming retirements of older, more inefficient vessels. An expected 97 carriers are scheduled to be delivered in 2025. The orderbook includes 21 icebreaker-class vessels for the Arctic LNG 2 project in Russia. These vessels are highly innovative and require high capital expenditure (CAPEX) which grant them the capability to traverse the Arctic region. Due to the Russia-Ukraine conflict, these vessels have faced a risk of delayed deliveries or cancellations due to international sanctions on Russia that have complicated equipment delivery and payments. IGU also noted the current global LNG fleet is relatively young, considering the oldest operational LNG carrier was constructed in 1977. As of end-2024, some 84.9% of the fleet is under 20 years of age, consistent with the rapid growth of liquefaction capacity since the turn of the century. Additionally, newer vessels are larger and more efficient, with superior project economics and emissions performance over their operational lifetime. In total, some 7,065 LNG trade voyages were undertaken in 2024, a 0.9% increase from the 7,004 seen in 2023, IGU said. This is in line with minimal growth in LNG production. While Asia remains the dominant demand centre with 4,609 trade voyages, European trade voyages declined by 13% to 1,929 in 2024 due to weak market fundamentals through most of 2024, with Europe importing just over 100mn tonnes. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Zawya
10-06-2025
- Business
- Zawya
Qatar accounts for 18.8% share of global LNG exports in 2024: IGU
Qatar's 18.8% share of global LNG exports brings the joint LNG exports of the three largest exporters in 2024 to 60%, says the International Gas Union (IGU) in its latest report. Qatar's exports slipped by 0.99mn tonnes to a total of 77.23mn tonnes in 2024, largely on par with the market's nameplate capacity of 77.1mn tonnes, IGU noted in its 'World LNG Report 2025'. Currently, Qatar is the third largest global LNG exporter. Ahead of Qatar are the US and Australia. Despite delays in new projects, the US defended its position as the world's largest LNG exporter in 2024, exporting a total of 88.42mn tonnes, equal to 21.5% of global LNG output and up 3.89mn tonnes from 2023. Australia maintained its position as the second-largest exporter with export volumes of 81.04mn tonnes in 2024, up 1.48mn tonnes from the previous year, comprising 19.7% of global exports. Global LNG liquefaction capacity grew by 6.5mn tonnes per year (MTPY) in 2024 to a total of 494.4 MTPY by year-end. Despite capacity growth, the global average utilisation rate decreased slightly to 86.7% from 88.7% in 2023, due to maintenance, power disruptions, and a series of mechanical outages across various facilities. In terms of liquefaction capacity, as of the end of 2024, there were 22 markets operating LNG export facilities. The US remained the market with the largest operational liquefaction capacity, at approximately 97.5mn tonnes per year, with an increase of 4.5MTPY compared to 2023. Australia and Qatar ranked second and third with 87.6MTPY and 77.1MTPY, respectively, maintaining the same capacity as the previous year. 'The top three LNG export markets currently represent more than half of global liquefaction capacity,' IGU noted. As of the end of 2024, there is 1,121.9MTPY of potential liquefaction capacity in the pre-FID stage, an increase of 75.3MTPY compared to 2023. With the Russia-Ukraine conflict still ongoing and a huge decline in Russian piped gas volumes in the market, a wave of proposed liquefaction projects has emerged to offset the loss of Russian supply. Some projects have also been fast-tracked to help meet demand. However, only a portion of pre-FID projects are going to proceed. According to IGU, global LNG demand is projected to stay on a long-term growth trajectory on the back of a strong increase in demand from markets in Asia and Asia Pacific. Although LNG contributes to global decarbonisation efforts by serving as a substitute for coal in power generation or for fuel oil in shipping, the LNG industry also needs to address emissions from its own supply chain. Cost inflation notwithstanding, these ongoing decarbonisation efforts continue to manifest themselves in an ever more efficient LNG fleet and innovative emission reduction measures undertaken by LNG projects worldwide, the report noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Malaysiakini
31-05-2025
- Business
- Malaysiakini
Why can't subsidise gas if we're 5th largest exporter
Why can't Malaysia subsidise gas for small traders if the country is the fifth-largest exporter of liquefied natural gas (LNG), asked MCA president Wee Ka Siong. Citing a report from the International Gas Union last year, he said Malaysia had exported approximately seven percent of the LNG in the world in 2023. 'Great in the eyes of the world, but...
