GlobalData: Ocean LNG leads in 2019 contracted capacity

Ocean LNG leads global long-term LNG contracted capacity signed by purchasing companies in 2019, according to a report by GlobalData.

GlobalData said that Ocean LNG dominated in terms of long-term LNG import volumes for contracts signed by key purchasing companies for the year 2019, with almost 47 percent of the global contracted capacity.

According to the data and analytics company, the latest Global Long-Term LNG Contracts Review 2019 report revealed that Ocean LNG signed the biggest long-term LNG contract for 2019 with Golden Pass Products.

Golden Pass will supply Ocean LNG with 15.6 mtpa of LNG for a period of 20 years, from 2024 to 2044. The gas will be supplied from the Golden Pass II LNG liquefaction terminal in the U.S.

Shell and Total Gas & Power North America were in second and third positions, in terms of long-term LNG import volumes for contracts signed by key purchasing companies for the year 2019, after Ocean LNG having signed 4 mtpa and 2.5 mtpa, respectively.

Sunrita Dutta, oil and gas analyst at GlobalData, said: “As Ocean LNG has contracted the entire LNG production from the Golden Pass terminal in the US […] the contracting volumes are high.

“As per the contracts signed, Shell is to receive 2mtpa of LNG volumes from both Cabo Delgado, Mozambique, and Texas. Total […] is set to receive its signed contracted LNG volumes of 2.5 mtpa from Louisiana for 15 years commencing 2023.”

Ocean LNG is a joint venture between Qatar Petroleum which owns a 70 percent stake and ExxonMobil with 30 percent. The JV markets LNG produced from Qatar Petroleum’s projects located outside Qatar.