(MENAFN) In March 2024, Qatar secured its position as the third-largest exporter of Liquefied Natural Gas (LNG). Global LNG exports experienced a notable growth of 2.3 percent, equivalent to 0.82 million tonnes, compared to the previous year, reaching a historic high of 36.31 million tonnes for March.
According to the Gas Exporting Countries Forum (GECF) in its latest monthly report, the surge in LNG exports was primarily driven by non-GECF countries, although GECF Member Countries also contributed, albeit to a lesser extent. Conversely, global LNG reloads saw a decline during the same period. Additionally, March saw the Republic of the Congo (Congo-Brazzaville) joining the ranks of LNG exporters.
Non-GECF countries dominated LNG exports in March, capturing a market share of 52.4 percent, up from 50.8 percent the previous year. Conversely, the market share of GECF Member Countries and LNG reloads decreased to 47.4 percent and 0.2 percent, respectively.
The United States, Australia, and Qatar emerged as the leading LNG exporting nations. Over the period from January to March 2024, global LNG exports increased by 3.3 percent year-on-year, totaling 107.66 million tonnes.
March 2024 witnessed a notable increase in LNG exports from GECF member countries and observers, rising by 1.8 percent year-on-year to 17.21 million tonnes, marking the highest historic rate for March. The growth in GECF's LNG exports was propelled by countries such as Angola, Malaysia, Qatar, Russia, and the UAE, offsetting lower exports from Egypt and Nigeria. For the period from January to March 2024, GECF's LNG exports grew by 3.3 percent year-on-year, reaching 51.27 million tonnes.
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