LNG
Argentina’s President Javier Milei met with TotalEnergies CEO Patrick Pouyanné and Eni CEO Claudio Descalzi in Paris to discuss Argentina’s energy sector, including projects linked to the Vaca Muerta shale formation and the development of the Argentina LNG export project.
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.
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The escalation of the trade war between the US and China could jeopardize several LNG megaprojects that are awaiting final approval. -
A final investment decision is expected later this year on the project, which will involve the construction of two trains with a combined annual capacity of more than 15 mtpa of LNG.
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The Russian independent will likely sell an ownership stake to an additional partner in the coming weeks, joining Total, CNOOC, and CNPC. FID is expected to take place later this year.
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Driftwood is authorized to export up to 3.88 Bcf/D, and Port Arthur gets go-ahead for 1.91 Bcf/D of natural gas as LNG.
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An EIA report shows natural gas exports reaching 4.6 Bcf/D in February, the 13th consecutive month in which the country's natural gas exports exceeded its imports. Exports are projected to reach 7.5 Bcf/D by 2020.
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Natural gas, often hailed as the bridge to an energy future that will include greater demand for alternative energy supplies, may be poised to overtake oil as the globe’s primary fuel source in the next decade.
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ExxonMobil signed a sales and purchase agreement with Zhejiang Provincial Energy Group for LNG supply. Zhejiang Energy is expected to receive 1 mtpa over 20 years.
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The move comes weeks after Gazprom announced a final development concept for the project. Other projects Shell is developing with Gazprom, including the Sakhalin 2 export facility, will not be impacted by the decision.
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The gas agreement clears the way for the FEED phase; FID expected in 2020.
