Top 10 LNG companies by market capitalisation
Liquefied natural gas (LNG) is natural gas that has been cooled to –260° F (–162° C), changing it into a liquid that is approximately 0.17% of its original volume. Natural gas is the cleanest burning option among fossil fuels, meaning that prioritising its use worldwide would help reduce global CO2 emissions and public health. The LNG process allows this advantageous fuel to be shipped safely and efficiently aboard purpose-built LNG vessels.
10 | Eni - $57.4bn
Eni has a global LNG portfolio based on long-term purchasing contracts, which include liquefaction and regasification facilities.
Committed to developing international projects, while also maintaining its attention in Europe, the company sold the first LNG produced from its Jangkrik, Indonesia project in 2017. Prior to this, in 2016, Eni teamed up with BP to sell the LNG produced by the Coral South project in Mozambique over the next 20 years, with an approximate annual yield of 3.3mn tonnes per year.
HQ: Rome, Italy
No. of employees: 30,950
Executive: Claudio Descalzi
9 | Equinor - $67.77bn
Recognising the potential in a growing market, Equinor now sells LNG to over 20 countries worldwide.
Sourcing its product primarily from the Snøhvit field in the Barents Sea, Equinor has four LNG tankers and terminals in Hammerfest and Bilbao. Aiming to reduce CO2 emissions to almost zero by 2030 across its offshore and onshore operations, Equinor is taking a firm stance on sustainability. “Global energy markets are changing,” said Executive VP Irene Rummelhoff. “The world needs more energy, but lower emissions. Natural gas is well positioned to provide secure, competitive and sustainable energy to consumers and industry”.
HQ: Stavanger, Norway
No. of employees: 20,245
Executive: Eldar Sætre
8 | ConocoPhillips - $69.86bn
Not only an active advocate for LNG but also an innovator in its production, ConocoPhillips developed the widely adopted ‘Optimized Cascade’ process in 1969.
First utilised by Kenai LNG plant in Alaska, this technology makes use of proprietary technology to liquefy gas and filter/remove waste products. Having received industry recognition, this process is now licensed to 25 LNG trains. ConocoPhillips’ current LNG projects include Australia Pacific LNG, Darwin LNG and Qatargas 3 in Qatar, which started operations in 2010 and has a projected lifespan of 25 years.
HQ: Houston, Texas
No. of employees: 10,800
Executive: Ryan Lance
7 | Gazprom Group - $80.56bn
Seeking to expand its presence in what it considers to be “promising gas markets”, Gazprom is giving LNG development high priority.
Having recorded LNG sales of 3.88mn tonnes in 2018, Gazprom is now seeking to add itself to the list of big industry players for LNG. Stating its belief that shale gas production will be less lucrative in future markets, the company (and Russia) is expected to become a leader for LNG by the year 2030. With the first delivery of Russian LNG to Mongolia in November 2019, Gazprom is already leading the way in its domestic market.
HQ: Moscow, Russia
No. of employees: 466,100
Executive: Alexey Miller
6 | BP - $131.42bn
BP’s focus is to bring its own brand of innovative commercial solutions to the LNG market, making use of an extensive supply and shipping portfolio.
A main shareholder and partner of Shah Deniz, one of the largest gas-condensate fields in the world located in Azerbaijan, BP produces 25bn cubic meters of gas per year for the European market. Further developments are occurring in Asia and Africa: the company owns almost a third of the Guangdong Dapeng LNG Terminal in China and BP has teamed up with Kosmos Energy in Senegal and Mauritania to comprehensively develop LNG projects in the region.
HQ: London, UK
No. of employees: 73,000
Executive: Bob Dudley
5 | Total - $135.9bn
Having operated within LNG for 40 years, Total prides itself on being one of the few companies in the sector to “integrate operations across the entire gas value chain, from production and liquefaction to marketing and distribution to end-customers”.
Total holds global interests in LNG that are predicted to contribute almost 40mn metric tonnes to the world market by 2020. Not only that, it also channels funds into the development of marine transportation for the gas in its liquid form. Current projects include Yamal LNG and Ichthys, based on the Australian coast.
HQ: Paris, France
No. of employees: 102,168
Executive: Patrick Pouyanné
4 | China National Petroleum Corporation- $161.09bn
Keen to diversify the company’s portfolio, CNPC has expanded to three LNG terminals in the Hebei, Jiangsu and Dalian provinces.
In a noticeable improvement to its production capability, the company was able to offload 15.13mn tonnes of LNG at its three terminals in 2018, a 45% rise from 2017’s figure. Current projects for the company include Tangshan LNG, which features a dock, trestle and terminals. The overall storage capacity will be 640,000 cubic meters, with an annual terminal capacity of 10mn tonnes.
HQ: Beijing, China
No. of employees: 1,382,401
3 | Royal Dutch Shell - $229.46bn
A pioneer in the LNG market, Shell has been involved in the global project to utilise it for over 50 years.
The world’s first LNG plant, located in Algeria, was assisted in its 1964 delivery by Shell, which also shipped the resulting product to the UK for sale. Shell is, in many respects, at the forefront of the LNG trade. The company’s current supply projects are now present in 10 countries across the globe, including the Brunei LNG plant, Oman LNG and Nigeria LNG.
HQ: The Hague, Netherlands
No. of employees: 86,000
Executive: Ben van Beurden
2 | Chevron - $235.63bn
Chevron CEO John Watson stated at the 18th International Conference & Exhibition on LNG that, “Experts project global LNG demand will increase nearly 130 percent by 2035”.
To help meet this figure, Chevron’s ‘Angola Liquefied Natural Gas Project’ is one of the most impressive energy projects operating in Africa today. With a processing capability of 1.1bn cubic feet of gas per day, Chevron’s ALNG venture is making a substantial dent in the rising demand for LNG, producing an average of 23,000 barrels of LNG per day in 2018.
HQ: San Ramon, California
No. of employees: 51,900
Executive: Mike Wirth
1 | ExxonMobil - $311.96bn
With a clear understanding of the important role LNG will play in shaping future fuel supplies, ExxonMobil possesses over 40 years’ experience in the sector.
Signifying its status as a world leader, ExxonMobil is growing its portfolio of LNG operations to meet the growing global demand. These projects include one in Papua New Guinea, which had a recorded production volume of 9mn tonnes in 2018, and Mozambique. The latter development, called ‘Area 4’, is estimated to hold 85trn cubic feet of gas. It represents an exciting and profitable venture for a company with its sights set firmly on the future.
HQ: Irving, Texas
No. of employees: 71,000
Executive: Darren Woods