Transformers for LNG
NATURAL GAS: THE FACTS
Where is it found?
Natural gas is found in rock formations, sometimes on its own and
sometimes alongside oil. Some deposits are relatively easy to extract, while others are trapped kilometers beneath the Earth’s surface.
How is natural gas produced?

Why can’t we replace natural gas with renewables?
PRODUCT RANGE
WHAT WE OFFER
TRANSFORMER USE AT LNG FACILITIES

What Virginia Transformer Does
Virginia Transformer’s Contribution to the LNG Market
LNG Market & Outlook
The global LNG market is expected to be tight over 2022-2026,
as Europe’s quest to reduce its dependency on Russian gas
increases the demand for LNG. This will curb gas demand growth in
China and emerging Asia as the European market outbids these
buyers for the limited amount of flexible LNG supply. To attract
the LNG needed to replace Russian pipeline gas to Europe, BNEF
expects US LNG netbacks for European TTF prices to be higher
than Asia’s benchmark JKM for the forecast period 2022-2026.
With tight supply anticipated in the coming five years, prices
are expected to remain at elevated levels compared to historical
averages over 2017-2019, before COVID-19. The ramp-up of new
supply projects, especially in the US, is forecast to raise global
supply to 460 million tons, up 19% from 2021. LNG demand
growth is likely to be constrained by supply between 2021-2026,
with 18% growth estimated, although Europe is expected to see
imports spike during the period.
