John Caruso’s Post

In 2023, Europe’s LNG imports averaged 14.7 Bcf/d, essentially unchanged from 2022, despite an estimated 4.2 Bcf/d of regasification capacity additions. Mild 2022–23 winter weather in the Northern Hemisphere reduced heating demand and contributed to Europe ending the winter heating season with record-high natural gas in storage. LNG imports into Europe established new records from June 2022 through April 2023, when imports peaked at 18.1 Bcf/d. Imports then declined in subsequent months because storage inventories were full, international LNG prices were relatively high, and energy conservation measures significantly reduced natural gas consumption. (The United States remained the largest liquefied natural gas supplier to Europe in 2023 – Today in Energy – EIA (U.S. Energy Information Administration) – February 29th 2023) #LNG #liquefiednaturalgas #EuropeLNGimports #Europenaturalgasstorage

BREAKING: Yesterday, the Department of Energy (DOE) released an analysis, which will provide a framework for evaluating new and pending permits for exporting liquified natural gas (LNG) to countries without a free trade agreement with the United States. The DOE found that expansion and continued use of LNG exports are unsustainable and unadvisable. “This report should end the discussion: LNG exports are bad for our pocketbooks, bad for the air we breathe, and bad for the safety of our communities. Energy independence does not mean shipping America’s resources overseas, it means harnessing and storing our abundant solar and wind energy. Clean Air Council urges the DOE to apply the study’s findings and deny the six pending permits for LNG export facilities,” said Alex Bomstein, Clean Air Council Executive Director. Read our full statement at https://buff.ly/49Fponj and the LNG export study at https://buff.ly/3P39fhM.

DOE has made clear that LNG exports are bad for everyone but the fracking industry itself. Now it's time to end the proposals for new LNG export terminals.

Liquified Natural Gas (LNG) as a transitional fuel is discussed here. The USA will TRIPLE exports of LNG with production and export quotas already approved.

According to data from the US Energy Information Administration (EIA)’s Natural Gas Monthly, US LNG exports averaged 11.9 bcfd in 2023, a notable 12% increase (1.3 bcfd) compared with 2022. #EnergyInformation #NaturalGas #LNG

The US and Qatar to drive LNG supply growth.. Newly approved LNG (liquefied natural gas) projects in the United States and Qatar mark a significant advancement in the global energy landscape, potentially boosting global LNG export capacity by up to 45% plus.Between 2021 and 2023, only 41bcm of LNG export capacity started up compared to 110bcm in the three years prior. However, there is a significant amount of LNG export capacity scheduled to start up from the second half of this year through to 2030. Between 2024 and the end of this decade, a total of 300bcm of new LNG export capacity is set to start up. This will take total LNG export capacity to more than 950bcm by the end of 2030, 45% higher than at the end of 2023. In the United States, several major projects are either in development or expansion stages, focusing on building new export terminals or expanding existing ones in states like Texas and Louisiana, which have abundant natural gas resources. Meanwhile, Qatar, already a leading LNG exporter, is investing in expanding its facilities and developing new ones to maintain its dominance in the global market. The substantial investments involved in these projects are expected to create jobs, stimulate local economies, and enhance infrastructure, while also increasing the U.S. and Qatar's influence in the global energy market. This surge in capacity aims to address rising demand for cleaner energy sources as countries seek alternatives to coal and oil. The increased supply will help meet this demand and offer a stable source of LNG to regions like Europe and Asia, which are diversifying their energy sources. Additionally, the expansion enhances energy security for importing countries and may strengthen strategic partnerships between the U.S., Qatar, and these nations, affecting geopolitical and trade relationships. Despite LNG's status as a cleaner alternative to coal and oil, concerns about its overall environmental impact, including methane emissions, continue to be a topic of discussion. Overall, these new LNG projects represent a major shift in the energy market with far-reaching implications for trade, economics, and geopolitics. #LNG #cleanfuel #oilandgas

European natural gas prices rebounded on Tuesday after the EU signalled its reluctance to continue its reliance on supplies of Russian pipeline gas. Asia’s JKM LNG benchmark followed suit. Meanwhile, the US Department of Energy yesterday released its much-anticipated study into the economic and environmental impacts of unfettered exports of LNG, following the pause on project approvals announced by the Biden Administration at the start of this year. The study examines a range of scenarios and comes to the unsurprising conclusion that unconstrained LNG exports would put upward pressure on Henry Hub prices. #Pricewatch #GasMattersToday https://lnkd.in/e-XT-7rq

According to data from the US Energy Information Administration (EIA)’s Natural Gas Monthly, US LNG exports averaged 11.9 bcfd in 2023, a notable 12% increase (1.3 bcfd) compared with 2022. #EnergyInformation #NaturalGas #LNG

“…US and Mexico liquefied natural gas or LNG export capacity is on pace to surpass 20 billion cubic feet per day in 2026 despite delays in the construction of Golden Pass LNG. The current capacity is nearly 15 billion cubic feet per day. Mexico LNG facilities will be exporting US gas since the country does not produce enough gas to meet its internal consumption. BloombergNEF now expects Golden Pass train one startup in June 2025 rather than January 2025. Previously, it was assumed train one would reach mechanical completion at the end of 2024 and start consuming feedgas in January 2025. However, after news of the project’s workforce shortage and other difficulties were reported and a filing was made to change the commissioning timeline, BNEF has adjusted the startup date to June 2025. See more on US natural gas and supply fundamentals in BNEF’s latest US Gas Monthly…”