[Laurent Vivier, Senior Vice President, Gas – Total]
I would highlight two reasons why LNG is important for Total. The first reason: that it's a booming market. We are expecting a growth of around plus 5% per year until 2030. It is essential for a group like ours to be present, and a big player in LNG. The second reason I would say, is that it matches perfectly our strategy as being an integrated major all along the value chain.
What is LNG? LNG is the most convenient way to transport natural gas on very big distances. And it's as well quite important for us, and we claim to be a company with a good trading experience because as well, LNG, as it is free of destination, you can bring the vessels to one area, and then change your mind and bring it to another one, matches perfectly this kind of optimization that we know very well how to do as a company.
Firstly, after the acquisition of the Engie-LNG portfolio, we are number two worldwide in the LNG among the majors. We have a 10% market share. So we need to be in those big events, like the LNG 19 in Shanghai. It is absolutely important for us to meet clients, so that people see us as well, and maybe discover the new Total with a bigger portfolio.
China has been the success story in the past year, plus 40% every year. So it's now the number two country as an importer, just after Japan, it has just gone above Korea. So it is extremely important to be in this country, which is now already quite big as an LNG importer, and growing very fast with a massive potential. And we need to meet absolutely everybody in this country, which is made of plenty of small countries and small regions, and to be familiar with this Chinese market. I would say, the way we are feeding the LNG demand in China comes both from our trading portfolio and from our upstream presence.
We are now going to be, in 2020, with a portfolio that is absolutely massive, which is 40 million tons, but in a market which is growing itself quite rapidly. So we've got to keep pace with this market, so we won't stop there. We need to continue the growth, and we need to continue the growth both in developing the supply, and the Group has got an amazing pipeline of projects, extremely competitive. We are talking about Papua New Guinea, we are talking about Arctic-2 in Russia, Nigeria, the US, we have now a partnership with Sempra for Mexico, exports from Mexico into the Pacific. And maybe Qatar, if we are successful.
And we need to develop the downstream, the sales from our portfolio. So I think we can be pretty happy each time LNG is gaining market share. You have plenty of newcomers, new countries, new companies joining this LNG club, which used to be a pretty close and private club with only 20 players. Now it's expanding extremely fast. And each time LNG succeeds with a new customer, with a new country, it is usually to target power generation with natural gas and displacing power generation from fuel oil or from coal, making it cleaner, more efficient and cheaper in the long run.