RE: Canada LNG Projects - is ther more than LNG Canada?19 Sep 2023 09:16
The construction of new export terminals has rapidly increased U.S. LNG exports every year since 2016, making the country one of the top three LNG-exporting countries in the world. The U.S. Energy Information Administration (EIA) has forecast that U.S. LNG exports will continue to grow in 2024, as two LNG projects come online: Golden Pass in Texas and Plaquemines in Louisiana.
Golden Pass Trains 1 and 2 projects is a joint venture between ExxonMobil Corp.(NYSE:XOM) and QatarGas. They are being built at an existing LNG import terminal in Texas that will be converted into an LNG export facility consisting of three trains, each with 0.68 Bcf/d of nominal capacity, or 0.80 Bcf/d of peak capacity. According to filings with the Federal Energy Regulatory Commission (FERC), Trains 1 and 2 will come into service during the second and fourth quarters of 2024, respectively while Train 3 will come online in the first quarter of 2025.
Meanwhile, Plaquemines LNG Phase 1 is a Venture Global project located in Louisiana. Phase 1 consists of 9 blocks, each containing 2 liquefaction trains for a total of 18 liquefaction trains with a combined nominal capacity of 1.3 Bcf/d, or peak capacity of 1.6 Bcf/d. According to FERC filings, developers plan to bring Phase 1 online by the end of 2024 and expect to start LNG production in August 2024. EIA has projected that Golden Pass Trains 1 and 2 and Plaquemines Phase 1 will add a total of 2.7 Bcf/d of nominal LNG export capacity, or 3.2 Bcf/d of peak capacity with nominal liquefaction capacity increasing to 14.1 Bcf/d and peak capacity to 17.0 Bcf/d across the nine U.S. LNG export facilities by the en
EIA notes that current international natural gas market conditions are conducive for expanding U.S. LNG exports, with natural gas prices in Europe and Asia relatively high compared with U.S. natural gas prices. Meanwhile, relatively little growth in global LNG export capacity is expected in the next two years thus increasing demand for flexible LNG supplies, mainly from the United States. The energy watchdog has estimated that U.S. LNG exports will average 12.0 billion cubic feet per day (Bcf/d) in the current year and increase to 13.3 Bcf/d in 2024. EIA has predicted that U.S. LNG exporters will use 105% of nominal capacity in 2023 and 108% in 2024, utilization levels equivalent to 88% and 90% of peak capacity in those years.” Canada LNG market read this: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/051023-canada-eyes-role-in-global-gas-markets-via-lng-exports-targets-asian-buyers
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