Finance News

Australia Becoming the World’s Largest LNG Exporter in 2020

Australia is set to become the world’s largest liquefied natural gas (LNG) exporter this year, overtaking Qatar, with its supplies expected to reach 81 million tonnes (MT) as Ichthys LNG and Prelude FLNG increase production, a Rystad Energy report shows.

Meanwhile, Qatari exports will remain at current levels, around 77 MT. The US will increase LNG exports from about 36 MT in 2019 to 56 MT in 2020, dominating new LNG supply contributions. Both Russia and Malaysia are each expected to add about 1.5 MT of LNG production during 2020.

Overall in 2020, 32 MT of new liquefaction capacity will be commissioned, adding to an already oversupplied market.

The United States alone will bring 27 MT of new liquefaction capacity online from Freeport LNG Train 2 and 3 (10.2 MT), Cameron LNG Train 2 and 3 (9.96 MT), Corpus Christi Train 2 (4.5 MT) and Elba Island Trains 1-10 (2.5 MT). Elba Island sent the commissioning cargo from their first train to Pakistan in December 2019, while the remaining trains will come online in 2020.

In Russia, Portovaya LNG (1.5 MT) and Yamal Train 4 (0.9) will be commissioned and bring Russia’s total LNG output to 30.2 MT. Rotan FLNG (1.5 MT) in Malaysia and Sengkang LNG (0.5 MT) in Indonesia are also expected to start commercial operations in 2020, bringing new capacity online from a mature LNG export region.

Learn more about LNG trends in UCube.

 

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