Post Tagged with: "U.S. LNG exports"

Source: Reuters

U.S. LNG exports soar in 2019 but supply glut may await in 2020

Reuters U.S. exporters of liquefied natural gas (LNG) head into 2020 after a record year that saw exports soar by more than 60%, but growing concerns about weakened demand and heavy competition could act as headwinds in the coming year. Four new liquefaction trains – the common term for a shipping facility – entered service this year in the United States. The U.S. is on track to become the biggest global LNG exporter by 2024. LNG is seen as an alternative for Asian countries that have relied on coal-fired power plants. LNG exports have surged in recent years out of Qatar, Australia, and the United States, the three biggest exporters of the super-cooled fuel. The fickle nature of the market was apparent early this year, when a warm winter in Asia cut heating demand and prompted Asian importers to divert cargoes to Europe. “It’s likely that LNG prices will stay[Read More…]

December 30, 2019 - 1:00 pm Closing Bell Story, Energy News, International, LNG, Natural Gas News
Source: Cheniere

America’s LNG Boom on a Collision Course with Global Climate Movement

From CNN Business/NBC2 America’s liquefied natural gas boom has a climate change problem, according to a report released on Monday. The US energy industry is scrambling to build dozens of expensive export terminals that can be used to ship cheap natural gas to China and other fast-growing economies that want to move away from coal. While those investments make sense today, they will likely be derailed in the longer run by a combination of plunging renewable energy costs and rising climate change concerns, according to the Global Energy Monitor, a network of researchers tracking fossil fuel projects. Those dual forces will make many LNG projects “unprofitable in the long term,” putting much of the $1.3 trillion of investments in the sector at risk, the report said. The problem is that the LNG boom will create harmful methane emissions — a greenhouse gas that is roughly 30 times more harmful than carbon dioxide emissions. Both coal and natural[Read More…]

U.S. LNG Poised For ‘Biggest Year Ever’ in 2019

U.S. LNG Poised For ‘Biggest Year Ever’ in 2019

From Forbes Next year really is: “the beginning of the boom.” The U.S. is poised to triple export capacity to around 10 Bcf/d by the end of next year, and we could be on our way to be the world’s largest exporter before 2025. And in a “second wave” of activity, federal regulators will decide the fate of an additional 13 pending projects by the end of 2019. For an industry that just started in February 2016, U.S. LNG has quickly been extending to all corners of the globe. Yet, neighbor and friend Mexico has received 20% of all U.S. LNG exports, with South Korea second at 19%. At some point though, Mexico’s primary position will slide because the country wants to produce more of its own gas and build more pipelines to gain greater access to cheaper U.S. piped gas. For example, piped U.S. supply to Mexico has averaged $3.18 per MMBtu so far this year, compared to $4.59[Read More…]

November 27, 2018 - 2:28 pm Closing Bell Story, Energy News, LNG
5 Main Competitors to U.S. LNG Dominance

5 Main Competitors to U.S. LNG Dominance

From E&E News The United States is rapidly increasing its exports of liquefied natural gas. But it isn’t the only nation doing so or that has plans to do so. The addition of the Cove Point LNG plant in Maryland brings the number of major LNG export centers in the U.S. outside Alaska to two. Sabine Pass in Louisiana became the first LNG export platform to emerge from the shale gas revolution, and it is expanding still. By the end of this year, another train at Sabine Pass is expected to be in commercial operation. From now until next year, the U.S. Energy Information Administration expects four more LNG export projects to come online across the country, from Corpus Christi and Freeport in Texas to Cameron, La., and Elba Island, Ga. By 2021, baseload U.S. LNG export capacity will exceed 9 billion cubic feet of gas per day (Bcf/d), according[Read More…]

July 20, 2018 - 12:15 pm Closing Bell Story, Energy News, LNG
Window is Closing for the U.S. to Become World LNG Leader, Sempra Energy Chief Strategy Officer Tells Congress

Window is Closing for the U.S. to Become World LNG Leader, Sempra Energy Chief Strategy Officer Tells Congress

U.S. opportunity may be closed for decades On June 26, the U.S. House of Representatives’ Energy & Commerce Committee held a hearing entitled “The Shifting Geopolitics of Oil & Gas.” The four energy sector experts who testified at the hearing included Sempra Energy (ticker: SRE) Chief Strategy Officer Dennis Arriola; Continental Resources (ticker: CLR) Chairman and CEO Harold Hamm; Dr. Kevin Kennedy, deputy director, U.S. Climate Initiative of the World Resources Institute; and IHS Markit (ticker: INFO) Vice Chairman Dr. Daniel Yergin. During the testimony, Sempra’s Arriola laid out a warning about a rapidly closing window that exists for U.S. LNG export plants to be developed for the much talked about U.S. LNG export boom to come to fruition. “As a result of two key developments — the U.S. shale energy boom and the growth in U.S. LNG export opportunities — the outlook for domestic and international natural gas markets[Read More…]

July 13, 2018 - 8:01 am Closing Bell Story, LNG, Oil and Gas 360 Articles
US NatGas Poised for Global Rise

US NatGas Poised for Global Rise

By AFP/Daily Mail The United States produces natural gas in abundance and is poised to become the world’s third-largest exporter by 2020, a production ramp-up supported by President Donald Trump. Thanks to advances in shale gas production, notably in the northeast, America has been the world’s largest natural gas producer since 2009 and extracted two billion cubic meters per day in 2017. The United States is now seeking fresh international export markets for the product. “This 2018-2019 time period was always flagged as being a crossroads in the global natural gas conversation,” said Breanne Dougherty, head of natural gas research at Societe Generale. The United States already exports some of this bounty through pipelines to Canada and Mexico. But to reach more distant markets, US industry is betting on liquefied natural gas, which can be exported by ship. U.S. Energy Secretary Rick Perry was in New Delhi recently to promote LNG[Read More…]

May 25, 2018 - 3:39 pm Closing Bell Story, Energy News, LNG