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Qatar + Shell ink LNG supply agreement: Qatar’s national energy firm QatarEnergy inked a long-term LNG supply agreement with energy giant Shell for deliver cargoes to China, according to a statement. QatarEnergy will supply Shell with 3 mn metric tons of LNG per annum, effective from January 2025, according to a statement. The duration and value of the supply agreement was not disclosed.
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A perfect union: Qatar has gained ground to become the world’s third largest exporter of LNG, after the US and Australia, exporting some 73 mn metric tons of LNG in 2024 so far, Reuters reports, citing data from analytics firm Kpler. China holds the record for the largest LNG importer globally, shipping some 71 mn metric tons into the country in 2023.
Lots of Shell action lately: QatarEnergy signed a 20-year agreement in October to supply up to 18 mn tons of naphtha (a refined or partially refined petroleum fraction) annually to Shell’s Singapore-based International Eastern Trading Company starting April 2025.
The LNG market is booming: The global LNG market is forecasted to double by 2040, expanding for the 400 mtpa recorded last year, as Asian market places grow and the energy sector is shifting towards alternative, more sustainable, sources of power, Reuters reports. Shell’s bottomline outdid market forecasts by 12% in 3Q, hitting a whopping USD 6 bn, which the energy giant attributes to heightened LNG sales.
