In the emotion-laden aftermath of the U.S. presidential elections, the focus of all energy attention seems to be exclusively on crude oil and domestic production. Specifically, on whether energy independence is at all possible and whether cutting Saudi Arabia out of the importers’ list is a wise move or exactly the opposite.
While some grieved and others rejoiced, Cheniere Energy, which launched its first export-bound LNG tanker this spring, continued to export liquefied gas. Those who follow the LNG market duly noted that exports from the Sabine Pass terminal are growing, but it took the IEA and its latest
The IEA said in its forecast that U.S. LNG will
According to the IEA – and to BP – LNG will become the dominant fossil fuel in international markets by 2035 as more and more countries switch from oil to gas, which is lower on the emissions scale. Gas consumption, the IEA noted, is growing across the world except in Japan, and there is plenty of supply, so prices are very competitive.
The U.S. is benefiting from the low prices of shale gas, liquefying it and shipping it to South America and Europe—but not Asia, which was supposed to be the main market for American gas. Cheniere Energy is shipping LNG to Kuwait, the UAE, and Jordan.
One LNG expert, Susan Sakmar,
Iraq, which flares some
Is it possible, then, for the U.S. to turn into a major supplier of natural gas to the Middle East in an ironic turn of events? It’s not impossible, that’s for sure. The amounts of LNG shipped so far to Middle Eastern destinations are not grandiose, but the shipments may indicate a turning of the tide.
Earlier this year, there was
What’s more, U.S. LNG export contracts are
This month, the U.S. is set to ship a record amount of LNG abroad, according to
By Irina Slav for Oilprice.com
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