Global LNG Exports Reach 'Record High' Of 38Mn Tonnes In December 2024: GECF

1/22/2025 2:05:09 PM

(MENAFN- Gulf Times) Global LNG exports reached a "record high" of 38mn tonnes in December 2024; representing an increase of 2.6% (0.97mn tonnes) y-o-y, the gas Exporting Countries Forum (GECF) has said in a report.
According to GECF, this represents the largest monthly gain since August 2024.
The growth in LNG exports came from all three major suppliers: GECF member countries, non-GECF countries, and LNG reloads.
Non-GECF countries remained the largest exporters, increasing their market share to 52.3%, up from 52.1% in December 2023.
The share of LNG reloads also rose slightly, from 1.1% to 1.4%, while GECF member countries' share declined from 46.8% to 46.3% during the same period.
In terms of the top LNG exports globally, this was led by the US, Australia and Qatar, GECF said in its latest monthly report.
In December 2024, LNG exports from GECF Member and Observer Countries grew by 1.5% (0.26mn tons) y-o-y to 17.59 mn tons.
This is GECF's highest LNG exports since January 2024 and a record high for the month of December.
The uptick in GECF's LNG exports was driven by Malaysia, Nigeria, Russia and Trinidad and Tobago, which offset lower LNG exports from Algeria and Egypt.
The stronger LNG exports in Malaysia, Nigeria and Trinidad and Tobago were attributed to higher feed gas availability.
In Malaysia, the repair of the Sabah-Sarawak gas pipeline supported the increased feed gas availability.
In Russia, an increase in LNG exports from the Portovaya and Vysotsk LNG facilities contributed to the rise in its LNG exports. Conversely, in
Algeria, with planned maintenance activity at the Skikda facility, led to the drop in LNG exports.
Meanwhile, the decline in Egypt's LNG exports was due to lower feed gas availability. The last LNG cargo exported from Egypt was in April 2024.
In December 2024, 67% of GECF's LNG exports were delivered to Asia Pacific, a decrease from 71% in the same month last year.
Europe accounted for 29% of exports, up from 27% in December 2023. The remaining 3% was split, with 2% going to Latin America and the Caribbean (LAC) and 1% to the Mena region.
In December 2024, LNG exports from non-GECF countries increased by 3.1% (0.59mn tonnes) y-o-y to 19.90mn.
The higher LNG exports came mainly from Brunei, Cameroon, Congo, Indonesia and Mexico.
Increased LNG production from existing facilities drove the rise in LNG exports from Brunei and Cameroon.
In Congo, Indonesia, and Mexico, the growth in exports was fuelled by the ramp-up in LNG production from new LNG facilities, including Congo FLNG 1, Tangguh LNG Train 3, and Altamira FLNG 1, respectively.
Meanwhile, LNG exports from Australia and the US remained relatively stable. Notably, the US saw significant developments, with the Plaquemines LNG facility exporting its first cargo in December and the Corpus Christi LNG Stage 3 facility commencing LNG production, GECF noted.

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