🔔 Just Out 🙌 2024 World LNG Report: Despite lower price, the growing global LNG market stays tight amid supply constraints. Get your copy 👉 https://igu.org/. 🔹 Global LNG trade grew by 2.1% in 2023. This global market now connects 20 exporting with 51 importing markets - available supply was the only limiting factor of growth. 🔹 2023 saw spot LNG prices declining to levels palatable for recovery of import growth in #Asia. #China came back as the largest LNG importer at 71.19 MT, #Japan and #Korea remained second and third despite annual declines, and #India came back to the fourth position, with more demand responding to the lower spot price. #Europe also cemented its role as an LNG importing heavyweight, maintaining the second-largest importing region spot in 2023. 🔹 Several major uncertainties confront the supply-constrained market, contributing the fragility of its current equilibrium. Key sources of this uncertainty include: the Biden Administration non-FTA LNG project approvals pause; sanctions on Russian LNG; the possibility that Ukraine may not extend the Russian gas transit deal at the end of 2024; shipyard bottlenecks; the ongoing security risk in the Middle East; as well as some declining gas field supply. 🔹 The Global LNG Market continues to rapidly evolve as it responds to growing gas demand in emerging markets, increasing number and diversification of market participants, and the acceleration of technology development and innovation. Huge thanks to the brilliant group of experts from the IGU LNG Committee for their incredible insight and contributions to make the report possible - they are a big group ! It was a pleasure to continue to collaborate with the S&P Global Commodity Insights and Rystad Energy. Additional thanks to the Central-Office GIIGNL and Laurent David for helping ensure trade date consistency. Mel ( Menelaos) Ydreos, Tatiana Khanberg, Andrea Stegher, Alessandro Blasi, Greg Molnár, Marcel Kramer, Satoshi Yoshida, Nabilah Z., Amir Foster, Carlos Cortes Simon, CARLOS GUERRERO, Khaled Abubakr, Didier Holleaux, Xi Nan, Rystad Energy, CNOOC International, Osaka Gas Co., Ltd., Vikram Mansukhani, Xi Nan, Kaushal Ramesh, Mehdy Touil, Marwa Rashad, Anna Shiryaevskaya, Tom Marzec-Manser, Anne-Sophie Corbeau, GTI Energy, Jean-Christian Heintz 🇫🇷🇨🇭🇧🇷 #ongt #LNG #energyreport #energysecurity #gasmarkets #gasprices #WorldLNGReport
International Gas Union
Oil and Gas
London, England 14,767 followers
Gas: The Energy for Today and the Future
About us
The International Gas Union (IGU) was founded in 1931. It is a worldwide non-profit organisation with the Secretariat based in London, UK. The mission of IGU is to advocate gas as an integral part of a sustainable global energy system, and to promote the political, technical and economic progress of the gas industry. The more than 150 members of IGU are associations and corporations of the gas industry representing over 90% of the global gas market, across all continents and segments. The working organisation of IGU covers the complete value of gas chain from exploration and production of natural gas, renewable and low-carbon gases and hydrogen, transmission via pipelines and liquefied natural gas (LNG) as well as distribution and combustion of gas at the point of use IGU encourages international trade in gas by supporting non-discriminatory policies and sound contracting principles and practices, promoting development of technologies which add to the environmental benefits of gas and further enhance safe production, transmission, distribution and utilisation of gas.
- Website
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http://igu.org
External link for International Gas Union
- Industry
- Oil and Gas
- Company size
- 2-10 employees
- Headquarters
- London, England
- Type
- Nonprofit
- Founded
- 1931
- Specialties
- gas exploration, storage, distribution, natural gas, hydrogen, renewable gas, biomethane, biogas, transmission, LNG, gas storage, gas transmission, gas distribution, gas pipelines, gas liquefaction, LNG shipping, gas markets, energy access, energy policy, gas production, gas utilization, methane emissions, energy transition, international energy, international energy trade, energy security, gas power plants, gas infrastructure, and gas investments
Locations
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Primary
36 Station Road
London, England TW209LF, GB
Employees at International Gas Union
Updates
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International Gas Union reposted this
We’d like to welcome Peter Wong, Managing Director of The Hong Kong and China Gas Company Limited (Towngas) and CEO of Towngas Smart Energy Company Limited, who will be speaking at WGC2025! With a remarkable career spanning over four decades in the energy sector, Mr. Wong has played a pivotal role in the development of Towngas’ business in China. Since joining in 1997 as Financial Controller, his journey has seen him rise to Managing Director in 2022. For his extensive expertise and leadership, he has been recognized by Forbes as one of ‘The Best CEO of Chinese Listed Companies’ in 2012 and 2013. Don't miss the chance to hear from this industry titan at WGC2025. Register your delegate pass now and join us for an insightful and inspiring event! 🔗Register here: https://lnkd.in/d4NK83sE #EnergisingaSustainableFuture #EnergyLeaders #Towngas #PeterWong #GasIndustry #EnergyConference #Leadership #IndustryInsights
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International Gas Union reposted this
We’re delighted to have Meg O'Neill, Chief Executive Officer and Managing Director of Woodside Energy, onboard to speak at #WGC2025! With an impressive 29 years of experience in the global oil and gas industry, Meg has held significant roles across North America, Africa, Europe, Asia, and Australia. Since stepping into her current role in 2021, she has overseen a transformative merger, making Woodside the largest energy company listed on the Australian Securities Exchange. This merger has bolstered Woodside’s legacy as a pioneer of Australia’s LNG industry and expanded its portfolio of high-quality oil and gas assets worldwide. Don't miss the chance to hear from one of the industry's most influential leaders! Register your delegate pass to join us at WGC2025 at https://lnkd.in/d4NK83sE #EnergyLeadership #OilAndGas #LNG #WoodsideEnergy #MegONeill #GlobalEnergy #Innovation #Sustainability #EnergisingaSustainableFuture
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📌 𝐓𝐡𝐞 𝐈𝐆𝐔 𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐭 𝐢𝐬 𝐇𝐢𝐫𝐢𝐧𝐠❗ 𝐑𝐨𝐥𝐞: 𝐀𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐬𝐬𝐢𝐬𝐭𝐚𝐧𝐭 We are seeking an Administrative Assistant to support the work of the IGU Secretariat in a range of administrative tasks. The role will provide administrative support to the Secretariat, ensuring efficient operation and aiding in the achievement of the Secretariat’s goals. The role will support the Governance Manager responsible for the online and in-person membership events. For more information, please download the application from the IGU's website 👉 https://lnkd.in/erYX89Kd or from the attached document. We look forward to hearing from you!
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International Gas Union reposted this
back to growth: global gas demand grew by an estimated 3% yoy in the first half of 2024, with consumption set to reach an all-time high of 4200 bcm this year. after the gas supply crisis of 2022 and the gradual rebalancing in 2023, natural gas markets are back on a clear expansion trajectory. with both China and India displaying double-digit growth rates (up by 10% yoy in H1 2024), Asia is the single most important driver behind the recovery in global gas demand, accounting for over 60% of the increment. in addition, colder weather boosted gas demand in Eurasia (up by near 5% yoy), while record high gas burn in the power sector supported overall gas demand in North America (growing by almost 2% yoy). in contrast with other markets, European gas consumption continued to decline in H1 2024, primarily due to collapsing gas-to-power demand (down by almost 20%) amidst the rapid expansion of renewables. in terms of sectors, industry is emerging as the key driver behind global gas demand, accounting for nearly two-thirds of growth in H1 2024. part of this is still supported by recovery, especially in Europe and certain emerging Asian markets, where industrial gas demand collapsed during the 2022 gas crisis. what is your view? how will global gas demand evolve in the next two years? will this strong momentum maintained? will the next LNG megawave unleash another growth period for gas markets? and what are the downside risks? #gas #LNG #TTF #JKM #HH
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International Gas Union reposted this
MGA President Abdul Aziz Othman his capacity as the International Gas Union Regional Coordinator for South & Southeast Asia delivered a keynote speech at the IndoPACIFIC LNG Summit 2024 highlighting the critical role of natural gas and LNG plays in unlocking the immense potential of Southeast Asia region. MGA President highlighted in his keynote the urgent need for regional collaboration to ensure a secure, affordable and sustainable energy supply for the nations. “This region boasts huge potential and by working together, we can establish a unified gas market that benefits the entire energy ecosystem. The responsibility lies with us, the local industry pioneers. Ultimately, the collaboration is key. The call is on us, strengthening our capabilities to unlock the full potential of our indigenous gas resources.” Indonesian Gas Society
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https://lnkd.in/egfyUnQ6 👉 EU’s decarbonisaton plans will come under increasing scrutiny following a political shift to the right, but a u-turn on the Green Deal is not to be expected. Read the full story in the latest issue of the IGU's #GVG taking a look at possible implications of the #European election outcome on the #GreenDeal. Tatiana Khanberg, Ella Minty, Neill Tannock, Didier Holleaux, Andrea Stegher, Menelaos (Mel) Ydreos, Andreas Walstad #ongt #energytransition
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📌 𝐓𝐡𝐞 𝐈𝐆𝐔 𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐭 𝐢𝐬 𝐇𝐢𝐫𝐢𝐧𝐠❗ 𝐑𝐨𝐥𝐞: 𝐏𝐮𝐛𝐥𝐢𝐜 𝐀𝐟𝐟𝐚𝐢𝐫𝐬 𝐌𝐚𝐧𝐚𝐠𝐞𝐫 In alignment with its 2024-2025 Annual Business Plan and Strategic Positioning, the International Gas Union (IGU) – www.igu.org – is actively pursuing key initiatives to advance the sustainable use and development of gases worldwide. To enhance the execution of the critical objectives outlined in the Plan, corroborated with the continued mission to deliver value for its members, IGU is in search of a high-performing public affairs professional to join the team on a full-time basis. The role presents a distinctive opportunity for a high-performing individual to directly contribute to the realization of IGU’s mission while acquiring invaluable experience in the operational dynamics of the global gas industry. Collaborate with the Senior Advisor to the Secretary General and other team members, including key internal stakeholders to deliver on the public affairs and strategic communications objectives that support the IGU’s overarching mission statement: ‘to advance the critical role of gas in a sustainable energy future’. For more information, please download the application from the IGU's website 👉 https://lnkd.in/erYX89Kd or from the attached document. We look forward to hearing from you!
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🌍 IGU World LNG Report 2024, 👉 https://lnkd.in/eyyPhZGw 💡 Global #liquefaction capacity continues to increase year-on-year, highlighting the importance still placed in #LNG globally. Despite this, LNG trade growth remains limited by the availability of supply, with only a single new facility to start production in 2023. 📌 A total of 3.8 MTPA of liquefaction capacity was added in 2023, from the Tangguh LNG T3 in #Indonesia, though an additional 0.6 MTPA added at Tango FLNG in #Congo-Brazzaville was brought online in early 2024, bringing total global capacity to around 483 MTPA. 📌 Average global utilisation rate in 2023 stood high at 88.7%, similar to the 89% recorded in 2022. 📌Globally between 2023 and the end of February 2024, 58.8 MTPA of liquefaction capacity reached #FID, a significant increase from the 22.4 MTPA in 2022. 📌 At the end of February 2024, 1,046 MTPA of #aspirational #liquefaction capacity is in the pre-FID stage, primarily in North America, with smaller capacities planned in Russia, Africa, the Middle East and Asia Pacific. 📌Reducing liquefaction sector #emissions remains a priority, with projects such as Cedar LNG 1 and Kitimat LNG in Canada both proposing the use of #hydropower to run operations, while a #CCS study is planned at Egypt's Idku LNG plant. #lngindustry, #lngtrade, #lngmarkets, #naturalgas, #oilandgas, #ongt, #energy, #energymarkets, #energysecurity #lngdata Menelaos (Mel) Ydreos, Rodney Cox, Ella Minty, Tatiana Khanberg, Simon Polledri, Oleg Mucha, Marcela Martinez Serret, Leila Zaboub AATQB, Neill Tannock, Rystad Energy, Andrea Stegher, S&P Global, Amir Foster, Marcel Kramer, Khaled Abubakr, Carlos Cortes Simon, Didier Holleaux, Satoshi Yoshida, Mehdy Touil
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💡The 16th issue of the Global Voice of Gas magazine is here 👉 https://lnkd.in/egfyUnQ6. After an enthralling IGRC2024 in Canada, we explore the outcomes including the need #innovation within the industry throughout all three components of the energy trilemma, #security, #affordability and #sustainability. 💡#Policy and #Regulation continue to play an important role within the energy industry, with political changes in Europe and the two largest natural gas markets in South America, #Argentina and #Brazil, pursuing policy changes to benefit their nations through natural gas. 💡In this GVG issue: 📌 #Biomethane, #BioLNG, #CCS, #Digitisation, #Security, and.... 📌 We take a deep dive into #IGRC2024, reviewing the highlights and key takeaways from the conference. 📌Tomas Lanardonne, Energy Lawyer and Partner at MHR and Ieda Gomes Yell, MSc, FEI, MIoD, Senior Visiting Research Fellow at the Oxford Institute for Energy Studies discuss South America and the pursuit of new policies to maximise #economic and #societal benefits of their reserves. 📌 Christopher Goncalves, Managing Director and Chair of BRG's Energy & Climate Practice and Pal Everingham, CEO of The Asia Natural gas & Energy Association review the Berkeley Research Groups report highlighting the key findings, including positive impact #LNG can have on tackling #emissions. 📌The potential for small-scale LNG to improve #energyaccess and remove a key barrier to social and economic #development. 📌We sat down with Graeme Bethune, Senior Visiting Research Fellow, Chairman at EnergyQuest and Adjunct Professor at the Centre for Gas and Energy Transition Research, University of Queensland to discuss the role of LNG and its vital role within the North Asian energy transition. 📌LNG remains the top fuel choice for low-carbon #shipping and #bunkering volumes are growing rapidly as LNG dominates future vessel orderbooks for alternative fuels. 📌We look at the highlights from the 2024 Wholesale Gas Price Survey report, analysing the natural #gasmarket and its rebalancing through 2023. 📌 The political changes in #Europe continue with a shift to the right in the recent #EUelections and we look into the implications of this. 📌 The role of gas in the #UK power still has a part to play despite its shrinking market share, as a crucial back-up for #renewables. 📌We conclude with Mathieu Lefebvre, CEO of Waga Energy. Mathieu discusses the potential of the WAGABOX technology, designed to capture 90% of #methane from landfill gas for grid injection. #GVG, #energytransition, #ongt, #innovation, #biolng #oilandgas Menelaos (Mel) Ydreos, Andrea Stegher, Tatiana Khanberg, Didier Holleaux, Marcel Kramer, Khaled Abubakr, Satoshi Yoshida, Nabilah Z., Carlos Cortes Simon, Neill Tannock, Joseph Murphy, Amir Foster, Ieda Gomes Yell, MSc, FEI, MIoD, Tomas Lanardonne, Christopher Goncalves, Paul Everingham, Graeme Bethune, Mathieu Lefebvre, Ella Minty, Rodney Cox, Jonathan Leake
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