According to data from LSEG, the Shell-led joint venture LNG Canada has increased its production and exports to Asia this month, as the conflict in Iran threatens natural gas supplies to the region, which is particularly vulnerable to global supply disruptions.
Data shows that the LNG project located in Kitimat, British Columbia, exported five shipments in the first 11 days of March, already surpassing half of February's total exports. A sixth shipment is scheduled to depart on Tuesday.
All shipments were directed to Asia, with two going to Japan, two to South Korea, and one to the Philippines. Based on LSEG data, the facility appears to be operating near its full capacity of 14 million tons per year.
The joint venture exports slightly less than 1.2 million tons per month. Data indicates that in the first third of this month, the company has already loaded over 400,000 tons.
Qatar supplies approximately 20% of globally traded LNG, but was forced to halt production and declare force majeure after the conflict prevented tankers from passing through the Strait of Hormuz, prompting global markets to scramble to adapt.
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