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Not surprisingly, a vast majority of the projects are based in the booming Gulf Coast region, as the following EIA graphic illustrates. That is the possibility, broached by Commerce Secretary Wilbur Ross, that China will sign long-term commitments to buy a game-changing supply of U.
Barclays Research also believes this opportunity could help see the second, third and fourth wave of U. LNG export terminal projects gain the necessary funding to get to the finish line,.
But with substantial offshore natural gas reserves, the country has become a major player in LNG exports over the past decade, more than doubling its output since First 50 families of farmers from South Africa may soon resettle in Russia. Pakistanfirst you nailed it mate! Muhammad Aijaz Umer. But at least those countries have an option now, thanks to U. But Australia's LNG export prowess could be close to peaking, although the picture is somewhat murky, said Carlos Torres-Diaz, a natural gas and renewables market analyst at Rystad. American exports are and will be toughing it out with Australian and Qatari exports.
According to a Wood MacKenzie analysis, U. Considering Chinese LNG demand could triple by , the firm believes the opportunities are enormous.
Reason 3: Australia recently enacted a regulatory measure capping exports due to domestic shortage concerns. Qatar Petroleum recently said it will raise output by 30 percent to mmt per year within seven years. Nobody questions its ability to reach that figure. But the tiny Arab nation will have to find buyers, which could be more challenging due to strained relations with several neighboring countries.
Reason 4: A recent Wall Street Journal editorial also noted:. That's despite the fact that a possible trade war between the U. Exporters won't comment on their negotiations with Asian buyers in light of the development, but few industry insiders in Houston, Texas appear overtly concerned.
Most Asian markets, including Japan, currently the world's largest importer of LNG, have ditched their restrictive destination clauses that would enable swap and exchange of cargoes, which could be deployed to mitigate tariffs and keep the lawyers busy. While China remains the big prize, U.
Until April, it was the only U. With gazing at Sabine Pass — which dispatched its first cargo to India's lucrative market in March — well and truly over, the rush is apparent for the next wave of LNG export terminal projects.
A staggering 15 proposed projects are awaiting FERC approval, with most in pre-application phase and a couple in pre-filing stage. Giving an indication of the scale of ambition of these aspirants is the 3. Away from the aspirants, five projects, including Cheniere Energy's own 2. Add it all up and the sheer number of American terminal projects hoping to find their place in the LNG market appears stupendous on paper.
In simple terms, an offtake agreement is inked between a resource producer i. Lang adds: But it's easy to get caught up in the market euphoria and forget that U.
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