Top 10 Global LNG Shipping Companies

Liquefied natural gas (LNG) is natural gas cooled to -163°C to become a liquid. Once liquefied, its volume shrinks to just 1/600 of its original gaseous state—making it highly suitable for maritime transport. As a low-carbon, clean next-generation fossil fuel, LNG delivers substantial profits to all stakeholders. Within the broader LNG industry, shipping companies play a critical role in bridging producers and end-users. Below are the top ten LNG shipping companies ranked by market capitalization as of early 2022. 10. ENI (Ente Nazionale Idrocarburi) Headquarters: Rome, Italy ENI has built a global LNG portfolio anchored in long-term supply contracts. Its core businesses include operating LNG vessel fleets, liquefaction hubs, and regasification plants. While ENI’s primary operations are based on mainland Europe, it is actively pursuing international projects. For instance, the company established the Jangkrik LNG liquefaction plant in Indonesia, commencing LNG sales in 2017. Prior to that, ENI jointly secured exploration and sales rights to the Southern Coral gas field in southern Mozambique with BP in 2016—a field expected to produce approximately 3.3 million tonnes of LNG annually. 9. Equinor Headquarters: Stavanger, Norway Equinor primarily operates the Snøhvit oil and gas field in the Barents Sea. Its most critical LNG shipping route runs from Norway to Spain: LNG is loaded at Hammerfest and delivered via the Bilbao regasification terminal to Mediterranean markets. Beyond Europe, Equinor sells LNG to over twenty countries worldwide. Equinor’s fleet comprises supply vessels, storage vessels, anchor-handling vessels, and approximately 100 tankers—totaling more than 150 vessels. 8. ConocoPhillips Headquarters: Houston, Texas, USA ConocoPhillips is not only an active participant in the LNG industry but also a pioneer in LNG production and transportation. The widely adopted "Optimized Cascade" liquefaction process was first introduced by the company in 1969. The Optimized Cascade process was initially deployed at the Kenai LNG plant in Alaska. Its patented technologies cover natural gas liquefaction as well as impurity filtration and treatment. Today, the process enjoys broad industry recognition and has been licensed for use in 25 LNG trains globally. 7. Gazprom Group Headquarters: Moscow, Russia LNG has long been a priority business segment for Gazprom PJSC (Gazprom). In 2018, Gazprom’s global LNG sales reached a staggering 3.88 million tonnes, establishing it as a heavyweight player in the global LNG market. Prior to the Russia-Ukraine conflict, Gazprom was mainland Europe’s largest LNG supplier. The renowned Nord Stream 1 and Nord Stream 2 pipelines were both surveyed and constructed independently by the company. 6. BP (British Petroleum) Headquarters: London, United Kingdom BP is a long-established major in the oil and gas sector, possessing robust global supply and transportation capabilities.

Equinor says new LNG supply will enter the global market in 2027

According to a recent Reuters report, Equinor (the Norwegian state-owned energy company) stated that new liquefied natural gas (LNG) supply may be delayed until 2027 before entering the global market. However, Fatih Birol, Executive Director of the International Energy Agency (IEA), recently indicated that a wave of new LNG supply is expected to hit the market by late 2025 or 2026. Eirin Løvemhoft, Equinor’s Senior Vice President for Marketing, Midstream, and Processing, said that, as Europe’s largest natural gas supplier, the company has conducted extensive market research and concluded that the earliest arrival of new global LNG supply would be at the end of 2026. TotalEnergies has likewise recently noted that due to project delays, labor shortages, and inflation, the next wave of new LNG supply entering the global market may not occur until 2027. Previously, Equinor signed LNG supply agreements with U.S.-based Cheniere Energy for new U.S. projects. Løvemhoft added that new LNG supply will help lower gas prices and boost demand—but for this winter, the market will remain tightly balanced, with no significant price surge anticipated.

Equinor plans LNG expansion in early 2030s to meet European and Asian demand

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Equinor plans to expand its LNG supply portfolio to 10–15 million metric tons annually by the early 2030s to meet European and Asian demand. The Norwegian producer is securing new contracts while diversifying sources amid geopolitical disruptions affecting global trade routes.

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Equinor plans LNG expansion in early 2030s to meet European and Asian demand

Equinor plans LNG expansion in early 2030s to meet European and Asian demand

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