LNG

With five liquefied natural gas import terminals in operation, France has now assumed the role of a leading regasified LNG supplier to the European Union, especially Germany and other neighbours, as gas from Russia’s Gazprom has been easily replaced with increasing gas flows from West to East in the EU.

The France-based International Group of Liquefied Natural Gas Importers (GIIGNL) has elected former Gaz de France and Cheniere Energy LNG executive Jean Abiteboul as its new President during its annual General Assembly.

Abiteboul succeeds Jean-Marie Dauger, who had held the position since 2016.

New President Abiteboul’s career started in 1975 with the French utility, Gaz de France, which has now transformed into Engie.

The GIIGNL constitutes a forum for exchange of information and experience among its 86 members in 27 countries with the aim of enhancing the safety, reliability, efficiency and sustainability of LNG import activities and in particular the operation of regasification terminals.

Abiteboul’s later Gaz de France positions included Executive Vice-President for Supply, Trading and Marketing, President of LNG carrier unit Gaselys and International Executive Vice-President.

In 2006, he left Gaz de France to become Senior Vice President International of Cheniere Energy and played a key role in concluding the long-term sale contracts necessary for obtaining the financing of the Sabine Pass LNG export project in Louisiana, and later of the Corpus Christi liquefaction plant in Texas.

In 2010, he was appointed President of Cheniere Marketing, a position he occupied until his retirement in November 2016.

“I look forward to serving GIIGNL, which plays a key role in advancing the LNG industry and in promoting LNG as a responsible solution for a sustainable energy future,” said Abiteboul.

Over the last 50 years, the GIIGNL has played a unique role in the development of the LNG industry, constituting a forum for exchange of views, experience and research among its members.

The GIIGNL, whose headquarters are in Paris, publishes one of the most authoritative annual reviews in the industry and in the 2020 edition noted that at the start of the year eight new floating terminals and 18 onshore terminals were under development

Global regasification capacity stood at 920 MTPA at the start of 2020 and there were 42 importing countries.

The GIIGNL report also noted that for LNG sellers and buyers, business models and contractual arrangements were becoming increasingly diversified.

Traders continue to take advantage of seasonal and local supply tensions and integrated portfolio players were displaying impressive growth, aiming to bridge the disconnect between LNG seller and buyer interests.

The review also contained the landmark statistic that the global LNG carrier fleet had passed the 600-vessel mark.