Around 400 more LNGCs will be needed if the current expansion of LNG exporting terminals and infrastructure continues.
In a paper given at last week’s Gastech, Emily McClain, Rystad Energy’s Vice President Gas Markets said the US will be responsible for 35% of global LNG production by 2035, based on the number of projects already under construction.
Also at Gastech, Indonesian state-owned energy company Pertamina International Shipping (PIS) said it is to double its tanker fleet in the next 10 years.
This included an unspecified number of LNGCs and followed last year’s securing of an $185 mill syndicated loan earmarked for fleet expansion.
The expansion is aimed at reducing the average age of the fleet, PIS’ CEO, Yoki Fernandi, said.
Indonesia is a major LNG producer and exporter, accounting for around 16 mill tonnes last year, or about 5% of the world’s total.
In 2021, PIS signed an agreement with Japanese shipping major NYK to collaborate on LNG logistics business.
Bahri expansion
In addition, Saudi Arabia’s shipping giant Bahri is looking to build a fleet of 20 to 30 new LNGCs in a bid to boost the Kingdom’s fuel supplies and meet rising global demand, Bahri CEO, Ahmed Ali Al Subaey told local media.
The company aims to build up the fleet — which is to include LNG, hydrogen, and ammonia carriers — through joint ventures with thus far unnamed partners.
No investment amount was disclosed, but the plan is set to be presented to Bahri’s Board for approval next year, he said.
In July, Bahri revealed in its second quarter 2024 earnings presentation that it planned to generate further growth through strategic fleet expansion and upgrades.
Saudi Arabia is also looking to increase gas supplies by developing Aramco’s Jafurah field - a gas field estimated to contain some 200 trill standard cu ft - which should help meet the Kingdom’s domestic energy needs, while the rest will be exported as hydrogen or LNG, according to local media reports.
