Written by Marwa Al Ghoul
Friday, May 19, 2023 07:00 AM
LNG exports achieved a new record during the first quarter of 2023, reaching about 104.5 million tons, compared to about 98.5 million tons during the same quarter of 2022, i.e. an annual growth rate of about 6.1%, according to the LNG and Hydrogen Developments Report. to OAPEC.
The report added that this is due to the continued growth of demand in the European market, which resorted to liquefied natural gas supplies, to reduce dependence on gas supplies through pipelines from Russia.
The report, prepared by Eng. Wael Hamed, continued that at the level of exporting countries, the United States of America topped the countries of the world in the volume of exports during the first quarter of 2023, as it exported about 21.5 million tons, compared to about 20.3 million tons during the same quarter of 2023. 2022, with an annual growth rate of 3.4%.
The report indicated that this increase is due to the sequential resumption of operation of the liquefaction units at the Freeport LNG station since mid-February, after an eight-month hiatus due to the methane gas leakage incident from one of the LNG shipping lines in June 2022, and after that the station stopped to review the rules. Safety and Security. In about a month and a half since its restart, Freeport LNG has exported cargoes totaling 1.35 million tons of LNG.
The report stated that the station’s exports are expected to increase during the coming months after all three liquefaction units at the station enter full operation. Greater than the rest of the world, after it fell to third place in 2022 behind the State of Qatar and Australia due to the Freeport station stop accident, which is the second largest gas liquefaction station in the United States with a design capacity of 15 million tons / year.