ENB Pub Note: I have added some background information on Peru LNG exports here.
Peru’s LNG exports primarily originate from the Peru LNG Terminal at Pampa Melchorita, which has a nominal capacity of approximately 4.4–4.5 million metric tons per year. In 2023, Peru LNG exported 3.69 million metric tons of LNG, loaded onto 55 vessels, an increase from 3.47 million metric tons across 51 vessels in 2022. For 2024, Peru LNG projected exports of around 60 vessels, equivalent to approximately 218 trillion British thermal units (Tbtus), which aligns with roughly 4 million metric tons, though exact figures for 2024 are not fully confirmed in available data.
The main buyers of Peru’s LNG in 2023 included the United Kingdom and South Korea as primary destinations, followed by Japan, China, Spain, France, the Netherlands, Canada, and Mexico. Historically, export destinations have shifted based on global demand; for instance, in 2017, Mexico received 34 of 71 cargoes, while Europe (especially Spain) has become a significant market since 2022 due to high demand and prices following Russia’s invasion of Ukraine. In early 2022, nearly half of Peru’s 37 cargoes from November to May were delivered to Europe, particularly Spain and the UK, reflecting a pivot from Asia, which was previously the dominant market.
Shell, a 20% stakeholder in Peru LNG, typically takes all volumes produced, managing distribution to these global buyers. Specific buyer breakdowns for 2024 are not detailed, but the trend suggests continued focus on Europe and Asia, driven by market dynamics and competitive pricing.
A spokesman for Hunt Oil told LNG Prime that there were three shipments in April, with the last one on April 23.
“The reason for the low number in April was that there were restrictions on the transportation system that forced the plant to shut down, and Peru LNG used that time to make some repairs,” he said.
PeruPetro’s shipment data shows that the three cargoes were loaded onboard the LNG carriers Extremadura Knutsen, LNGShips Empress, and Myrina.
The data shows that South Korea will receive all three cargoes.
“The number of shipments to date this year now totals 17, and Peru LNG plans to meet its goals set for the year,” the spokesman said.
Peru LNG previously said it expects to load 60 cargoes equivalent to 218 TBtus (trillion British thermal units) in 2025.
There were 57 vessels equivalent to 205 TBtus in 2024. This is some 3.98 million tons of LNG.
In 2023, Peru LNG loaded 55 vessels. This equals 190.3 TBtu or about 3.69 million tons of LNG, a rise from 51 vessels or 179.05 TBtus in 2022.
LNG giant Shell holds 20 percent in Peru LNG and offtakes all the volumes.
US-based Hunt operates the LNG plant with a 35 percent stake, while Japan’s Marubeni has 10 percent in the LNG terminal operator.
Last year, MidOcean Energy, the LNG unit of US-based energy investor EIG, completed the purchase of an additional 15 percent interest in Peru LNG from Hunt Oil.
MidOcean’s interest in Peru LNG now stands at 35 percent.
