Stages of development of LNG production and sales

Abstract

In 1895 Carl von Linde developed the technology for liquefying natural gas, but only in the early twentieth century commercial production of liquefied natural gas was begun. Liquefied natural gas (LNG) is natural gas, primarily methane, that has been artificially liquefi ed by cooling to minus 160 °C for easy storage or transportation. It is a liquid that is colorless and odorless. Pure LNG is not fl ammable, does not ignite or explode on its own. There are several stages of development of LNG production and sales. The fi rst stage (1917–1941) — the first LNG plant was built in the USA. In 1917, an LNG plant was built in the US. The second stage (1959–1969) was the beginning of LNG exports from the US to Europe. The third stage (1969–2020) was the development of the world LNG market. As of early 2010, there were more than 30 large-capacity plants in the world aimed at LNG exports. The fourth stage (2020-present) is the impact of the coronavirus on the world LNG market. Since 2010, global LNG exports have increased from 302.4 billion cubic meters to 487.9 billion cubic meters in 2020. LNG already accounts for more than 40 percent of global gas trade. Leading LNG exporters include Qatar, Australia, the USA, Russia, Malaysia, Nigeria, Trinidad and Tobago, Algeria and Indonesia. Russia accounts for 8 % of global LNG exports. The pandemic situation in the world has caused oil prices to fall and remain low, so suppliers with low costs or high margins are in an advantageous position. Nevertheless, several LNG projects are planned to be launched in the near future, which will allow Russia to become one of the leaders in LNG production. The article outlines the stages of development of LNG production and sales, analyzes the current state of global LNG production, and also lists various LNG projects in Russia.