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Client Alerts
Published by LNG Industry
October 9, 2024 • 1-minute read
In this article, Chris Strong, Steven Wilson and Joe Brown* provide a market analysis of the LNG industry in the Middle East and North Africa region.
The region’s share of the worldwide LNG market is significant and it continues to be a resilient and important global supplier. Qatar alone accounts for approximately 20% of global market share – similar to that of major international exporters, the US and Australia – which comprises over 70% of MENA export volumes.
The MENA region benefits from the advantage of low production costs relative to other exporters, with some projects in Australia and the US costing between 3 – 5 times more than Qatar’s at the extremes. As a result, Qatar has continued to dominate the export market of LNG, exporting approximately 77 million tpy, with further aggressive expansion planned over the next decade, including a target to increase production to 142 million tpy.
In North Africa, the story is less dynamic but there remains significant potential for growth. Algeria, Africa’s largest exporter, has continued to grow its LNG export volumes y/y. Continued exploration has revealed vast quantities of resources yet to be tapped, with new fields being discovered as recently as early this year. On the other hand, Egyptian exports have stagnated amongst uncertainty, including escalating tensions around the Red Sea, but continued investment from international oil and gas companies signals continued confidence.
Read the full LNG Industry article in the attached PDF.
*Joe Brown is a trainee solicitor in the London office.
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.
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