Exports of liquefied natural gas globally increased to 34.59 million tons last month, which was the highest on record, the Gas Exporting Countries Forum reported.
The increase was driven by a boost in imports, at an annual 3.7%, which in turn was driven by a surge in demand in the European Union. That was up by a sizable 40% in September amid lower pipeline flows and the start of storage refill season ahead of peak demand season in the winter.
The biggest rise came from non-members of the organization, whose total hit 19.36 million tons. This was up by 14% on the year. GECF LNG exports, for their part, fell by 6.3% on the year to 15.17 million tons. The change was a reversal of four consecutive months of export rises, the forum also said.
Within the GEFC, LNG exports fell sharply from Russia, Algeria, Nigeria, and Peru, while LNG exports from Qatar jumped. Outside the organization, the drivers of LNG exports included the United States, Canada, and Papua New Guinea. These three offset a decline in Australian LNG shipments abroad, resulting from maintenance work at two producing facilities—APLNG and Ichthys.
Over the first nine months of the year, GECF exports of liquefied natural gas ticked up modestly by 0.1% while non-GECF exports added a more robust 8.7%. The GECF total for January to September stood at 143.79 million tons, while the non-GECF total stood at 173.21 million tons.
The U.S. Energy Information Administration earlier this month forecast that LNG capacity in North America could surge by more than 100% between now and 2029, to a total of 20 billion cubic feet daily, from 14 billion cubic feet daily at the moment.
The projected increase will come mainly from the United States, where there are seven large LNG facilities under construction, including the Golden Pass LNG plant, Driftwood LNG, and Plaquemines LNG, which is already operating, although it has not yet been officially commissioned.
By Irina Slav for Oilprice.com
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