Gulf producers take aim at green LNG market
Oman sells first carbon-neutral cargo while Qatar sets sights on major expansion of low-carbon supply from North Field East
In early June, state-led Oman LNG trumpeted an agreement with minority shareholder Shell to deliver the Middle East’s first carbon-neutral LNG cargo from its three-train liquefaction plant on the sultanate’s north-east coast to an undisclosed buyer. The cargo’s “full lifecycle” CO2 emissions from upstream extraction to end-use will be offset using “nature-based carbon credits”. The deal marks the latest move by the fledgling international green LNG sector toward the mainstream. Fewer than 20 cargoes—of either carbon-neutral or reduced-carbon LNG—have changed hands, almost exclusively to Asian customers, with emerging leader Shell only delivering its first such shipment to Europe in April.
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation