LNG
Shell has reached FID on LNG Canada Phase 2, a major expansion that will double the Kitimat facility’s LNG export capacity to 28 mtpa and strengthen long-term supply to growing Asian markets.
Increased capacity from new terminals and expansions drove up exports of liquefied natural gas at the quickest rate since 2016.
While discussions on the commercial terms for gas sales continue, the release of the jackup rig intended to drill production wells calls into question Shell’s plans for first gas in 2027.
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The contract was awarded by Bechtel to Baker Hughes for project's key liquefaction systems. -
With mobilization in China normalizing, new Wood Mackenzie analysis expects the country to account for almost 40% of global growth in oil demand this year.
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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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Plaquemines Phase 2 is the first project to take FID in 2023 and is expected to be the next new LNG capacity in North America.
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More than 2.0 mtpa of LNG to come from Plaquemines LNG and CP2 LNG facilities.
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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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The Texas coast LNG terminal had been idled since a fire damaged a portion of the facility in June.
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Fossil fuel importers could move more quickly to renewables as a domestic alternative to buffer the impact of energy supply disruptions and rising prices.
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The new facility will hook into Eni's FSRUs and other Marine XII development infrastructure.
