5 Global LNG Projects 2024

Several global LNG projects are currently underway in 2024 to produce LNG. The largest importer and buyer of LNG is China. These are coming at a crucial time when experts predict a steadily increasing demand for LNG and a need to raise Liquefied Natural Gas production, storage and export capacity.

How is LNG Made?

LNG is produced by cooling natural gas until it becomes a liquid and is primarily used for transport. Once it is liquified in LNG trains, natural gas takes up only 1/600th of its original volume. Condensing natural gas, transporting it, and re-vaporising it is not easy. It requires expensive infrastructure and highly specialised systems.

How is LNG Transported?

Liquefied Natural Gas (LNG) is commonly transported through specialized carriers known as LNG tankers. These tankers are designed to keep the gas in its liquefied state by maintaining extremely low temperatures, usually below -260°F (-162°C). The process of liquefaction reduces the volume of natural gas by around 600 times, making it easier and more cost-effective to transport over long distances.

What is an LNG Terminal?

An LNG Terminal refers to an onshore installation that acts as a local storage and transport hub for LNG between land and sea. As a result, these terminals are usually quite large and near major ports or high-density residential areas.

5 New Liquefied Natural Gas Projects to Look Forward to in 2024

Several major LNG projects are underway globally, with most earmarked to come online in the next few years. However, a few will be operational before then. Here are five major LNG projects to keep an eye on in 2024.

1. North Field Expansion LNG Project – Qatar

The North Field Expansion Project is the world’s largest LNG project. When it comes online in 2025, it will make Qatar the largest LNG exporter globally, with a LNG production capacity of 110 million tons per year (tpy). Additionally, this LNG project will also use renewable energy and carbon capture to limit emissions.

2. Jafrabad Floating Storage and Re-gasification Unit – India

Set to boost India’s LNG shipping capacity by 12%, the Jafrabad FSRU will challenge Singapore for Asia’s LNG hub crown. It will process and ship 47.5 million tonnes per annum across the region. This makes it one of the boldest LNG projects on the market.

3. Rio Grande LNG Plant – United States

Proponents claim it will produce the “greenest” LNG in the world. The Rio Grande LNG in Brownsville, Texas, represents the next step in LNG infrastructure. It will produce 27 million tpy, and the LNG plant is said to reduce emissions by over 90% with carbon capture storage.

4. Arctic LNG 2 – Russia

Projected to produce 19.8 million tpy by 2025, Novatek’s Utrenneye onshore field will come online in 2023. Additionally, it will employ new technologies to make the natural gas liquefaction process more efficient. This LNG project is part of a more extensive trans-arctic LNG shipping development by Novatek.

5. Brunsbüttel LNG Terminal – Germany

Heavily reliant on imports for over 90% of its domestic natural gas consumption, Germany is seeking to become more self-reliant with the construction of its Brunsbüttel LNG Terminal. As a result, the terminal will have an operational capacity of 5.1 million tpy and be one of many LNG projects to come.

Many major LNG projects are currently underway globally as the world looks for a temporary fuel to transition to a low-carbon renewable future. Countries worldwide hope that new infrastructure will help meet growing demands and shift their energy portfolios.

Go further with LNG

This article is part of LNG: The Rise of Liquefied Natural Gas guide.

You can also check other related articles, such as China’s growing LNG dependence.