Latest news with #GasExportingCountriesForum
Zawya
05-05-2025
- Business
- Zawya
Led by Qatar, GECF accounts for 47% of LNG cargo exports so far in 2025
Qatar - Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. In March, some 577 LNG cargoes were exported globally, Gas Exporting Countries Forum said in its Monthly Gas Market Report. This represents an increase of 19 shipments compared to a year ago, GECF noted. Moreover, the number of shipments rebounded in March 2025, by 14% when compared with the total in the previous month. After the first quarter of 2025, total export cargoes reached 1,641, which was similar to the level reached during the same period in 2024. For the January to March period, the US exported some 39 more cargoes than in 2024, followed by Indonesia with 14. According to GECF, there was a slight uptick in the level of spot charter rates, although the shipping market remains depressed. In March this year, the monthly average spot charter rate for steam turbine LNG carriers climbed by 40% m-o-m to reach $700 per day. In March 2025, the average price of shipping fuels decreased by 4% m-o-m, to reach $520 per tonne. Compared with one year ago, this average price was 16% lower y-o-y, and was also 6% lower than the five-year average price for that month. In March 2025, the LNG spot shipping costs for steam turbine carriers decreased further, by up to $0.11/MMBtu on certain routes. This was driven by the small uptick in the average LNG carrier spot charter rate, which was outweighed by the impact of the decreases in the delivered spot LNG prices and the cost of shipping fuels, when compared with the previous month. Compared to one year ago, in March 2025, the monthly average spot charter rate and cost of shipping fuels were both lower, while the delivered spot LNG prices were higher. As a result, LNG shipping costs were up to $0.48/MMBtu lower than in March 2024. In March 2025, global LNG exports surged by 9.8% (3.50mn tonnes) y-o-y to reach a monthly record of 39.23mn tonnes, marking the highest annual growth rate since June 2021. The increase was supported by higher exports from both GECF and non-GECF countries, along with a rise in LNG re-exports. For the period Q1, 2025, global LNG exports rose by 3.9% (4.11mn tonnes) y-o-y, reaching 110.65mn tonnes driven primarily by higher exports from non-GECF countries. The share of non-GECF countries in global LNG exports edged up from 52.2% in March 2024 to 52.8% in March 2025. Likewise, the share of LNG re-exports increased from 0.4% to 1.2% over the same period, while the share of GECF Member Countries declined from 47.4% to 46%. The US, Qatar and Australia were the top three LNG exporters in March, GECF noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
18-03-2025
- Business
- Zawya
Qatar set to drive Mideast LNG exports; 27% region's share of global supply by 2050: GECF
Qatar - An LNG tanker passes boats along the coast of Singapore. LNG exports are projected to expand significantly over the next three decades, the HECF has said in its 'Global Gas Outlook 2050'. The Middle East region is expected to increase its LNG exports by approximately 106mn tonnes, accounting for 27% of the global LNG supply by 2050, GECF said and noted Qatar will mainly drive the region's gas exports during the forecast period. LNG exports are projected to expand significantly over the next three decades, the Gas Exporting Countries Forum has said in its 'Global Gas Outlook 2050'. The number of LNG-exporting countries is expected to rise from the current 22 to 27 by 2050, leading to a more diversified supply landscape, with North America emerging as the dominant LNG-exporting region by mid-century. The Middle East is set to follow closely behind North America, with its share of global LNG exports projected to reach 25% by 2050, compared to 24% in 2023. Qatar, already a leading LNG exporter, is expanding its liquefaction capacity through the North Field East and North Field South projects, while the UAE and Oman are ramping up production to meet growing global demand. These investments will further strengthen the Middle East's position as a key LNG supplier, particularly to Asia Pacific and Europe, reinforcing its strategic importance in the evolving global LNG market. Qatar aims to nearly double its LNG production capacity, increasing output by approximately 85% from the current 77Mtpy to 142Mtpy by 2030. This ambitious growth, led by the North Field Expansion project, will be implemented in three phases – through the North Field East (NFE), South (NFS), and West (NFW) expansion projects – and could contribute to a global oversupply later in the decade. 'This significant expansion will underpin Qatar's continued and sustainable economic growth, aligning with the Qatar National Vision 2030,' GECF said. GECF noted Qatar remains the dominant player in the Middle East's midstream gas sector. With the North Field East (NFE) and North Field South (NFS) expansion projects, Qatar is set to significantly increase its LNG export capacity by 65Mtpy, bringing the total to 142Mtpy by the early 2030s. The NFE project, valued at approximately $29bn is expected to commence operations by 2026, while the NFS project, estimated at over $14bn will follow shortly thereafter. In 2023, some 12 of the 20 LNG suppliers were GECF member countries, collectively supplying 193Mt of LNG and meeting 47% of global LNG demand. LNG trade is poised for significant growth among GECF member countries over the forecast period. This trend is driven by financial and technological advancements, making LNG more accessible to new consumers. As global natural gas demand increases, LNG is emerging as a strategic commodity, influencing the political and economic landscapes of gas-producing countries. Projections indicate that LNG exports from GECF member countries will reach approximately 445Mt by 2050, accounting for 56% of global LNG exports. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
12-03-2025
- Business
- Zawya
Qatar's natural gas output to reach 244bcm in 2030: GECF
Qatar's natural gas production is expected to reach 244bcm in 2030 and grow to 300bcm by 2050, Gas Exporting Countries Forum (GECF) has said in its Global Gas Outlook 2050. The focus on expansion and sustainability reflects Qatar's strategic approach to energy development, balancing growth with responsible resource management, Doha-headquartered GECF said in its 'Global Gas Outlook 2050', which was released here on Monday. Qatar's natural gas demand is projected to grow by 22bcm, reaching 71bcm by 2050, with an annual growth rate of 1.4%. Expanding LNG export production capacity and energy sector-related needs primarily drive this increase, GECF said. Qatar's production stood at 169bcm in 2023, adding 4bcm primarily from the Barzan project, GECF noted. According to GECF, Qatar's strategy focuses on expanding its LNG capacity, with gas production projected to reach 300bcm by 2050. This significant growth requires massive investments toward the North Field Expansion Project, the world's largest natural gas reserve. These efforts aim to solidify Qatar's position as a leading LNG exporter to Asia and Europe, strengthen its energy security, and align with global energy transition goals. Qatar's stable investment environment, strengthened by long-term contracts and established market access, further supports its growth as a reliable supplier in global energy markets. Qatar is also diversifying its gas use by investing in fertiliser production and low-carbon gas-based solutions, including the Ammonia-7 blue ammonia project, expected to begin operations in 2026. However, gas demand in power generation is expected to see only modest growth, GECF noted. Qatar aims to install 4GW of large-scale solar PV capacity by 2030, reflecting its commitment to renewable energy. GECF noted the Middle East's long-term average annual growth rate is projected to reach 3% by 2050, reflecting a moderate slowdown compared to the historical average of 3.7% between 1996 and 2023. This deceleration is influenced by the maturing economies of key oil and gas exporters, including Qatar, Saudi Arabia, and the UAE, which are expected to collectively account for over 55% of the region's GDP through mid-century. Long-term growth rates for these countries are forecasted at 3%, 3.2%, and 3.4%, respectively, signalling a gradual easing of economic momentum as these economies transition from reliance on hydrocarbons to more diversified economic models. According to the outlook, the Middle East is positioning itself as a global leader in blue hydrogen production, leveraging its proximity to extensive natural gas reserves. This strategic focus not only enables the production of low-carbon hydrogen but also fosters the establishment and expansion of hydrogen markets. By 2050, 14% of the total incremental gas use in the region is projected to be associated with low-carbon hydrogen production. State-owned companies and government funding are driving the development of hydrogen projects, supported by advancements in CCUS technologies. These initiatives will ensure the long-term viability of the natural gas sector while contributing to global decarbonisation goals, GECF noted. Across the region, growing demand for natural gas in industry and power generation is expected to account for 57% of the total growth, or an additional 163bcm by 2050. As an energy source and feedstock, industrial gas use is set to play a pivotal role, adding 83bcm over the forecast period. Expanding gas-to-chemicals, petrochemicals, fertiliser production, and light manufacturing industries will drive this growth. 'Natural gas is expected to remain integral to powering water desalination through cogeneration facilities or membrane technologies reliant on electricity,' GECF said in its latest gas outlook. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
11-03-2025
- Business
- Zawya
The Gas Exporting Countries Forum (GECF) Launches 9th Edition of Global Gas Outlook 2050, Highlighting Africa's Natural Gas Potential
The Gas Exporting Countries Forum (GECF) has released the 9 th edition of its Global Gas Outlook 2050, offering an in-depth analysis of the future of natural gas. A flagship publication in the global energy landscape, this latest edition explores key trends and developments in the natural gas market. Aligning with the ambitions of African Energy Week (AEW): Invest in African Energies 2025 – the continent's premier energy event – the report will support global companies and policymakers in navigating the energy trilemma, balancing economic growth, energy demand, supply challenges and evolving market dynamics. The Global Gas Outlook 2050 was launched on March 10 during a GECF-led webinar, coinciding with a crucial period for Africa's natural gas industry. Africa's natural gas reserves account for approximately 6% of global supply, with an expected growth of 15% by 2030. This expansion, while moderate compared to other regions, underscores Africa's LNG potential, particularly as global gas demand is projected to increase at a CAGR of 1.5% until 2030, with LNG representing approximately 10-15% of that demand. GECF's participation at AEW 2025 will highlight Africa's role as a key investment destination in the global natural gas landscape, emphasizing opportunities in infrastructure development and gas monetization. 'The findings of the report confirm our argument that only a diverse energy mix tailored to the specific needs of various regions can balance affordability, security and sustainability,' stated Eng. Mohamed Hamel, GECF Executive Secretary. 'We are convinced now more than ever that natural gas is not only a bridge to the future, but an integral part of the future. I would like to emphasize the role of GECF member countries, who play a vital role in meeting the world's energy needs. Their contributions, by 2050, will meet half of all global natural gas supplies.' According to the report, global primary energy demand is expected to increase by 18% between 2023 and 2050, with no peak in sight. The global energy mix is diversifying, with natural gas projected to supply 26% of total energy by 2050. As a result, natural gas demand is set to rise steadily, reaching 5.1 trillion cubic meters by 2050 – a 32% increase from 2023 levels. This represents the second-fastest growth rate in energy demand after renewables. Africa, the Middle East and Eurasia are expected to drive nearly 87% of the global natural gas production expansion by 2050. 'The GECF Global Gas Outlook 2050 provides policymakers, investors and stakeholders with valuable insights into the future of global energy markets. Today's launch comes at a pivotal moment. The energy sector must evolve to meet these evolutions while addressing energy security, sustainability and economic growth. Despite the world's tremendous progress, energy poverty remains a pressing challenge and natural gas plays a central role in meeting the world's challenges,' stated Sheik Mishal bin Jabor Al-Thani, GECF Executive Board Member. The global natural gas trade is undergoing a transformation, with LNG taking center stage. LNG trade is projected to double, reaching 800 million tons by 2050. To support this expansion, cumulative global investments in natural gas are expected to total $11.1 trillion by 2050, with $10.4 trillion allocated to upstream development and $700 billion to downstream infrastructure. Natural gas, when combined with decarbonization technologies such as carbon capture, utilization and storage, provides a viable pathway to a balanced and sustainable energy transition. According to the outlook, key drivers of natural gas growth include favorable policies, increasing global LNG production and rising demand for power generation. With Africa's urbanization rate expected to reach 68% by 2030, natural gas is positioned to drive technological innovation, economic growth and regional cooperation. Primary energy demand in Africa is forecasted to grow at an annual rate of 0.6% through 2050, accounting for a quarter of the global increase. Notably, Africa is set to lead global natural gas demand growth at a rate of 3% annually – the fastest worldwide. With over 600 million people across Africa lacking electricity and over 900 million without access to clean cooking solutions, insights from GECF at AEW: Invest in African Energies 2025 will showcase Africa's vast investment opportunities. As global interest in African hydrocarbons rises, GECF member countries – including Angola, Algeria, Libya, Nigeria, Senegal, Mauritania, Egypt and Mozambique – are well-positioned to drive economic expansion and maximize energy monetization strategies. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
