Posted on June 19, 2011

Qatar continues to be the largest liquefied natural gas (LNG) exporter in the world in 2010, accounting for 25.5% of overall global LNG exports, according to analysis by QNB Capital. Qatar has been the world’s leading LNG exporter since 2006, and accounted for 14.7% of overall global LNG trade during that year. Qatar will continue to be the leading global LNG exporter in 2011, with full production capacity reaching over 77 million tons by the end of the year.

Global LNG trade increased by 22.6% in 2010, to reach 218.8 million tons, compared to 178.5 million tons in 2009. This growth was led by Qatar, whose LNG exports increased by 53.0% in 2010 to reach 55.7 million tons, compared to 36.4 million tons in 2009. The main reason behind Qatar’s phenomenal LNG export increase was added production through train 6 at Qatargas 3 and train 7 at RasGas 3. Both these trains added 15.6 million tons to Qatar’s overall production capacity in 2010.

Indonesia is the second largest LNG exporter in the world, with a total of 23.1 million tons in 2010, followed by Malaysia with 22.5 million tons and Australia with 18.6 million tons.

British Petroleum (BP) in its recently released annual Statistical Review of World Energy stated that global energy consumption had rebounded strongly in 2010, driven mainly by economic recovery. World primary energy consumption grew by 5.6% in 2010, which was the largest increase (in percentage terms) since 1973. Energy consumption growth in 2010 was witnessed in all regions throughout the world, with Chinese consumption growing by 11.2%. In 2010, China became the world’s largest energy consumer, overtaking the US, with a global share of 20.3%.

Oil continues to be world’s leading fuel in terms of global energy consumption. In 2010, oil accounted for 33.6% of world energy consumption, followed by coal with 29.6%, natural gas with 23.8%, and others with 13.0%. Global natural gas consumption grew by 7.4% in 2010, the fastest since 1984.

UK is Qatar’s Top LNG Export Destination

In 2010, UK overtook Japan as the main destination for Qatar’s LNG exports. Qatar directed a total of 10.2 million tons of LNG in 2010 to the UK, followed by India with 7.7 million tons, and South Korea and Japan with 7.5 million tons each. QP and ExxonMobil had set up a joint venture (referred to as Qatargas 2) in 2002, with the aim of supplying up to 14 million tons of LNG annually to the UK.