According to GlobalData, Total SA has dominated in terms of long-term LNG import contract volumes signed by key purchasing companies for the year 2020, with almost 38% of global contracted capacity.
GlobalData’s report, ‘Global Long-Term LNG Contracts Review, 2020 – Kosmos Energy Signs Largest LNG Supply Contract with BP Plc’, reveals that Total signed a long-term LNG contracted capacity of 3.2 million tpy in 2020. BP followed with a share of 22% (2.5 milion tpy). Eni Spa also had 18%, or 1.5 million tpy, of the total LNG contracted capacity in the year.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, explained: “The emergence of the COVID-19 pandemic has impacted the signing of long-term LNG contracts globally, as almost all the long-term contracts reported for 2020 were signed in 1Q20. Amid the ongoing pandemic, buyers are more interested in signing short-term contracts as long-term contracts became unattractive due to lower spot prices.”
Among seller companies, Kosmos Energy signed the biggest long-term LNG contract for 2020 with BP to supply 2.5 million tpy of LNG for a period of seven years (2023 - 2030). The LNG will be supplied from the Tortue Floating I liquefaction terminal in Mauritania.
Nigeria LNG Limited signed the highest long-term LNG contract volumes among seller companies with 4 million tpy (47% of the total volumes in 2020). Energia Costa Azul and Kosmos Energy followed with 2.5 million tpy (29% of the total volumes) each, followed by Qatargas Operating Company and Venture Global LNG with 1 million tpy each.
