“More than 20 months after their first cargo, Venture Global’s claim to still be commissioning a facility that, according to publicly available data, has been producing at around nameplate capacity for more than a year is simply unbelievable and increasingly untenable.”
Young said his country would work with Venezuela “to advance the development and production of Venezuelan natural gas for export and utilisation in Trinidad and Tobago. We have reached a significant agreement and milestone.”
BP said it was on the look out for more opportunities in the gas value chain. It aims to reach 30mn tpy of LNG in its portfolio by 2030.
Simonelli said natural gas would be both a bridge and a destination fuel in the energy transition.
Other partners include Global Infrastructure Partners (GIP), GIC and Mubadala. These companies will provide $4.8bn and will receive 62.5% of funds generated from the Rio Grande LNG first phase. The largest commitment comes from GIP, which is stumping up $3.5bn.
Centrica has struck a long-term sale and purchase agreement for a million tonnes a year of liquefied natural gas (LNG) from the US.
Tusiani said a third wave of US LNG export plans would need equity to get off the ground. “It’s not a slam dunk. There’s a lot of environmental hurdles, there’s a lot of issues, uncertainty with buyers.”
A statement from EarthJustice said the Alaska LNG plan “now has most of the approvals needed for it to move forward. The ultimate fate of the project, however, is far from certain.”
“Our team will continue to deliver on our mission to bring more clean, low-cost US LNG to the global market in the coming years to support the world’s rapidly growing demand for energy.”
The LNG company CEO Mike Sabel said Venture Global was “thrilled” to be Excelerate’s “inaugural long-term LNG supplier”.
“The combination of low fees and increasing costs mean we estimate unlevered internal rates of return (IRRs) as low as 5-6% for some projects. Based on these returns, some projects are finding it challenging to secure finance, particularly via equity raises,” said Harrison.
More investments in liquefaction is needed to head off a supply-demand gap that the company sees emerging in the late 2020s. Last year, the company put this supply-demand gap opening up by mid-decade.
Germany has reduced its imports of Russian energy to zero and imported its first full cargo of LNG to Uniper’s new terminal at Wilhelmshaven.
Japanese companies have struck a number of LNG deals, as the government pushes to lock in future energy supplies.
Sempra Infrastructure and ConocoPhillips have struck a 5 million tonne per year LNG supply contract, from the planned Port Arthur project in Texas.
QatarEnergy (QE) has signed up to buy 70% of the production from its Golden Pass LNG export project, which it is developing with ExxonMobil in Texas.
Europe can rebalance its gas supply and replace Russian gas imports before 2030, but will have to take some tough decisions on LNG.
A new group is launching today with a focus on managing methane emissions in shipping, using LNG as a fuel.
Australia’s Woodside Energy (ASX:WDS) will take up to 2.5 million tonnes per year of liquefied natural gas (LNG) exports from Commonwealth’s LNG export facility under development in Cameron Parish, Louisiana, after confirming a 20-year deal.
Japan’s JERA and Germany’s Uniper have teamed up to back an ammonia project in the US Gulf Coast, with a focus on exports to Germany. In the near term, it should also secure new LNG supplies.
Germany has been on the hunt for new LNG supplies in order to stave off the near term crisis of stuttering Russian gas supplies. Chancellor Olaf Scholz’s visit to Canada did not come through on the LNG front, but he did seal an ambitious deal on hydrogen.
Argentina is taking preliminary steps to tap its potential for exporting liquefied natural gas (LNG) with Malaysia’s Petronas, President Alberto Fernandez announced Thursday.
Centrica has signed up to purchase LNG from a new US supplier, working on an ambitious offshore project, in a move backed by Secretary of State for Business and Energy Secretary Kwasi Kwarteng.
NextDecade has struck a deal to supply 1 million tonnes per year of LNG from its planned Rio Grande project to ExxonMobil.
Cheniere Energy, the largest US exporter of liquefied natural gas (LNG), signed a deal with PetroChina that lays that the groundwork for another expansion of Cheniere’s Texas export terminal as global demand for the fuel surges.