LNG
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The deal is expected to support the liquefied natural gas exporter’s Sabine Pass liquefaction expansion project. -
The construction of the Calcasieu Pass 2 liquefied natural gas facilities in Cameron Parish is scheduled to start this year.
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The award includes two LNG ‘mega’ trains with a combined capacity of 16 mtpa.
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Port Arthur LNG is expected to handle 13 mtpa of liquefied natural gas, with first LNG cargoes expected in 2027.
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Record prices and the need for energy security are driving US LNG market momentum.
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The company has tapped Bechtel to complete the front-end engineering and design study of the expansion, which would add 20 mtpa of LNG production capacity.
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A minority stake of the new company to go public later this year.
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After Russia started a war in Ukraine, oil prices increased and brought in higher oil export revenues in the short run. Longer term, things are looking rougher.
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The deal awards the first concession in the Middle East for unconventional oil resources.
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Pemex and New Fortress Energy partner up to develop the Lakach gas field.
