LIQUEFIED NATURAL GAS MARKET ANALYSIS

Key Developments

• In January 2024, Endress+Hauser USA announced its plans to strengthen its liquefied natural gas (LNG) initiative further in 2024
• In May 2022, Venture Global LNG signed two long-term deals to supply liquefied natural gas (LNG) to ExxonMobil LNG Asia Pacific (EMLAP), a registered business name of ExxonMobil Asia Pacific, and an affiliate of the U.S.-based company, ExxonMobil. Under the new sales and purchase agreements (SPAs), Venture Global LNG will supply two million tons per annum (Mtpa) of LNG to ExxonMobil LNG Asia Pacific. The ExxonMobil affiliate will receive 1Mtpa from the Plaquemines LNG facility and 1Mtpa from the CP2 LNG facility.
• In May 2022, ExxonMobil and Pertamina, the state-owned energy company in Indonesia, signed a joint study agreement to assess the potential for large-scale implementation of lower-emissions technologies including carbon capture, storage, and hydrogen production. The agreement aims to advance carbon capture and storage in Indonesia that have taken place since the companies signed a memorandum of understanding at COP26 in Glasgow, COP26 is the 2021 United Nations Climate Change Conference, more commonly referred to as COP26, was the 26th United Nations Climate Change conference, held at the SEC Centre in Glasgow.
• In April 2021, Total Energies made natural gas, the least polluting of all fossil fuels, a cornerstone of its strategy in order to meet the growing global demand for energy while helping to mitigate climate change. In particular, Total Energies is focusing on developing new cooling technologies for Liquefied Natural Gas (LNG). With the help of this technology, LNG can be easily transported and delivered as closely as possible to the consumer markets.