The liquefied natural gas (LNG) industry has become a cornerstone of the global energy landscape, driven by rising demand for cleaner energy sources and the need for energy security.
According to National Grid, LNG produces 40% less CO₂ than coal and 30% less than oil. It is widely regarded as the cleanest form of fossil fuel.
As countries transition away from coal and seek to reduce carbon emissions, LNG offers a viable alternative, providing flexibility and efficiency in energy supply.
Leading companies in the LNG sector, such as TotalEnergies, Shell and Chevron, are at the forefront of this transformation — not only for expanding their production capacities and optimising their supply chains but also investing in innovative technologies to enhance sustainability.
Here, we showcase the key players in the LNG market.
10. Southern Company
Market cap: US$96.7bn
HQ: Georgia, USA
CEO, Southern Company Gas: Jim Kerr
Southern Company owns and operates multiple LNG facilities — including import terminals and liquefaction plants — that supply gas during peak use times.
Southern Company has also focused on developing innovative technologies to improve the efficiency of LNG production and transportation.
Southern Company Gas, one of Southern Company’s subsidiaries, operates four peak-shaving facilities which enhance gas supply during high-demand periods. The largest facility, the Riverdale LNG plant in Georgia, boasts a storage capacity of 31 million gallons and can deliver 400,000Mcf/day of natural gas. This facility is strategically connected to the Atlanta Gas Light pipeline system, ensuring efficient distribution to the Atlanta market.
Additionally, the Cherokee LNG plant can store more than 25 million gallons and has similar delivery capabilities.
9. Sinopec
Market cap: US$98.2bn
HQ: Beijing, China
Managing Director: Yongsheng Ma
Sinopec is a leading LNG provider in China, significantly expanding its LNG portfolio through strategic investments and partnerships.
The company operates several key LNG terminals and has established long-term contracts with major global suppliers such as TotalEnergies, ensuring a stable supply to meet China’s growing demand for cleaner energy.
Sinopec is also involved in international LNG projects, enhancing its global footprint.
By focusing on technological advancements and sustainable practices, Sinopec aims to support China’s shift from coal to natural gas, positioning itself as a crucial player in the global LNG market while contributing to energy security and environmental goals.
8. CNOOC
Market cap: US$130.1bn
HQ: Beijing, China
Managing Director: Craig Huyan Guo
As one of the largest oil and gas producers in China, CNOOC has significantly expanded its LNG portfolio through strategic investments and partnerships.
The company operates various LNG terminals and has established long-term contracts with major global suppliers, ensuring a stable supply of LNG to meet China’s growing energy demands.
CNOOC is also actively involved in international projects, enhancing its global presence in the LNG market. By focusing on technological innovation and sustainable practices, CNOOC aims to support China’s transition to cleaner energy sources while maintaining its leadership position in the LNG sector.
7. ConocoPhillips
Market cap: US$130.2bn
HQ: Texas, USA
Director, LNG Trading & Origination: Nigel Hudspith
ConocoPhillips has a 60-year legacy in LNG, with it consistently emphasising LNG’s role in reducing greenhouse gas emissions compared to coal and other hydrocarbons.
In 2022, ConocoPhillips expanded its LNG portfolio by acquiring a 10% stake in APLNG, raising its interest to 47.5%, enhancing supply reliability for Australia and Asia. As well as this, it entered a partnership with Port Arthur Liquefaction Holdings, securing a significant position in the US’ LNG development.
The company focuses on low-cost, efficient production methods, enabling it to maintain competitive pricing. This is in part thanks to its long-term contracts and partnerships, notably with QatarEnergy, which also enhance its market presence.
By leveraging its expertise in natural gas marketing and expanding regasification capacities, ConocoPhillips is well-equipped to address future energy needs and contribute to a lower-carbon future.
6. TotalEnergies
Market cap: US$138.8bn
HQ: Paris, France
President Gas, Renewables & Power: Stéphane Michel
Head of LNG Assets: Matthew Maillot
TotalEnergies is the second-largest private LNG operator worldwide and has established itself as a leader in the LNG industry. The company is aiming to sell 50 million tons of LNG annually by 2025.
The company operates across the entire LNG value chain, from production to distribution, with strategic positions worldwide. TotalEnergies’ global portfolio reached 44 Mt/y in 2023.
“Our diverse portfolio captures about 10% of the global market share,” says Stéphane Michel, President Gas, Renewables & Power. “Our strategy is centred on long-term supply agreements, with 60% of our LNG sourced from our own production and 40% from third-party sales.
"As we look ahead, we aim to increase our long-term portfolio by 50% by 2030, leveraging competitive projects primarily in North America and the Middle East to meet the rising demand for natural gas.”
5. PetroChina
Market cap: US$197.1bn
HQ: Beijing, China
Assistant CEO and Global Head of LNG and New Energies: Yaoyu Zhang
PetroChina has established itself as a leader in the LNG industry through its significant global presence and strategic operations.
Under the leadership of Assistant CEO and Global Head of LNG and New Energies Yaoyu Zhang, PetroChina manages one of the largest and most diverse energy portfolios globally, demonstrating its commitment to the LNG sector.
The company’s involvement in LNG spans various aspects of the value chain, including production, transportation and trading. PetroChina's strategic positioning in the Asian market — particularly in China— gives it a competitive advantage as the region experiences growing demand for natural gas.
As China seeks to reduce carbon emissions by switching from coal to gas in industries like steel production, PetroChina is well-positioned to capitalise on this trend and further strengthen its leadership in the LNG market.
Yaoyu says that PetroChina expects China’s LNG import capacity to increase from 140 million metric tons to 250 million metric tons per year by 2027 or 2028.
4. Aramco
Market cap: US$1.8tn
HQ: Dhahran, Saudi Arabia
President of Upstream: Nasir K. Al-Naimi
The world’s largest oil producer, Aramco is working to become a major LNG player, with the first steps to reach a goal taken earlier this year according to Aramco EVP Abdulkarim Al-Ghamdi. This follows its US$500m stake in MidOcean Energy — the company’s first international LNG investment.
Publicised as ‘Aramco’s next step’ by the company, it believes LNG has the capacity to be a transition fuel that will unlock a greener future.
“We believe that LNG can be an important transition fuel that could enable global energy and industrial systems to balance reducing greenhouse gas emissions and energy security,” says Aramco’s President of Upstream, Nasir K. Al-Naimi.
3. Chevron
Market cap: US$284.6bn
HQ: California, USA
President, Chevron Global Gas: Freeman Shaheen
Vice President, Midstream: Colin E. Parfitt
Thanks to its involvement in every aspect of the natural gas business, Chevron is a leader in LNG.
Chevron's fleet of specialised ships connects global LNG production and regasification facilities, establishing a safe, reliable and efficient network for transporting LNG worldwide.
Freeman Shaheen, President of Chevron Global Gas, stresses the need for developing LNG’s capacity with the long game in mind.
“We can’t stop there,” he says. “Worldwide, natural gas and LNG resources can be plentiful, with investment and partnership. There is enough gas around the world that can be developed to displace coal, but it takes time. It’s not going to happen overnight.”
2. ExxonMobil
Market cap: US$521.4bn
HQ: Texas, USA
Senior Vice President, LNG: Peter Clarke
A major player in the LNG arena for more than 40 years, ExxonMobil works in enabling the sector’s commercialisation to help market growth worldwide. Over the coming decades, natural gas is expected to play an increasingly important role in fueling the world’s economic growth.
ExxonMobil is active across the natural gas value chain in most major markets. Its global presence, combined with its ability to leverage expertise across its Upstream, Downstream and Chemical businesses, enables the business to create innovative integrated solutions.
Earlier this year, ExxonMobil reported it is ahead of schedule with its plan to double the size of its LNG portfolio to 40 million tons per annum by 2030.
Senior Vice President for LNG, Peter Clarke, says: “The big component in LNG is the commercialisation of the LNG itself. We want to have the leading LNG portfolio in the world in terms of its financial robustness and financial returns.
“I would say we're well on the way to doing it.”
1. Shell
Market cap: US201.8bn
HQ: London UK
Senior Vice President Shell LNG Marketing & Trading: Tom Summers
Shell has been a pioneer in LNG for more than 60 years. The company accounts for nearly 17% of global LNG trading volume, supplying 67 million tonnes of LNG in 2023 — making it the world’s largest oil and gas trader with extensive international operations.
Shell asserts that natural gas and LNG are essential to the energy transition, as they produce lower carbon emissions compared to coal when generating electricity.
Today, Shell is involved in every stage of the LNG journey, from extraction to distribution. The company has LNG supply projects in 10 countries and interests in regasification plants globally. With access to 38 million tonnes of own capacity and significant third-party sourcing, Shell continues to expand its LNG portfolio through strategic acquisitions and investments.
A Shell executive said at the launch of the first commercial LNG vessel in 1963: “This ship heralds the birth of a whole new industry.
“The movement of LNG is destined to play an increasingly important part in meeting the world’s growing energy requirements.”
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