Malayasia is expected to surpass Qatar as the largest supplier of flexible LNG – according to a new report from consultants Wood Mackenzie.
Analysts from the consultancy firm stated that state-owned Petronas could grow its flexible LNG volumes significantly in the coming years – reaching up to 26m tonnes per year in 2022 from the 2.5m tonnes per year registered in 2013.
Such growth could challenge Qatar’s position as one of the largest flexible suppliers currently in the market, according to Wood Mackenzie.
It is estimated that Qatar has some 20m tonnes per year of flexible LNG supplies in 2013, although the firm has conceded that who will have the biggest in 2022 will depend on contracting strategies in the interim.
The threat to Qatar’s production crown is also advancing from a similar area as Australia’sLNG production growth would see the nation rival the world’s largest exporter of LNG by 2020 – but only if plans to export are realised in full.