(Source: Shutterstock.com)
Nine liquefaction projects under construction in North America, with an ability to add capacity of 98.6 million tonnes per annum (mtpa), are expected to come online by the end of 2027, according to an analysis by Poten & Partners.
North American’s LNG capacity is currently about 86.6 mtpa, based on U.S. Energy Information Administration data. The additions tracked by Poten would more than double LNG export capacity.
Of the projects, six are located in the U.S., two in Canada and one in Mexico, Poten said in a Sept. 26 analysis.
In 2024, two projects will come online by year-end: Venture Global LNG’s 13.3 mtpa Plaquemines LNG Phase 1 (Louisiana); and Cheniere Energy’s 10 mtpa Corpus Christi Stage III (Texas).
In 2025, three projects will come online:
- QatarEnergy and Exxon Mobil’s 18.1 mtpa Golden Pass LNG (Texas);
- Shell, Petronas, PetroChina, Mitsubishi and Korea Gas’ 14 mtpa LNG Canada (British Columbia); and Venture Global’s 6.7 mtpa Plaquemines LNG Phase 2 (Louisiana) in mid-2025.
RELATED
Exclusive Q&A: LNG Canada to Open Country Up to Asian, Global Markets
In 2026, one project will come online: Sempra’s 3.3 mtpa Energia Costa Azul (Mexico), according to Sempra’s new timetable.
In 2027, three projects will come online:
- NextDecade’s 17.6 mtpa Rio Grande LNG Phase 1 (Texas) in early-2027);
- Sempra’s 13.5 mtpa Port Arthur LNG Phase 1; and
- Pacific Energy and Enbridge’s 2.1 mtpa Woodfibre LNG (British Columbia).
Poten expects LNG supply growth of around 186 mtpa over the next 10 years, which would represent a 3.8% CAGR. Also within the next 10 years, Poten expects the market share of the top 10 LNG producers to rise to 88% from around 82% now. Five of the top 10 producers are state controlled or state monopolies, according to Poten.
The U.S.’ share of the LNG market is expected to reach 29% in 10 years from 21% now, Poten said.
RELATED
No End in Sight: Biden’s Pause Has Far-reaching Consequences
Recommended Reading
Private Producers Find Dry Powder to Reload
2024-09-04 - An E&P consolidation trend took out many of the biggest private producers inside of two years, but banks, private equity and other lenders are ready to fund a new crop of self-starters in oil and gas.
Offshore Guyana: ‘The Place to Spend Money’
2024-07-09 - Exxon Mobil, Hess and CNOOC are prepared to pump as much as $105 billion into the vast potential of the Stabroek Block.
Permian Consolidation Piques Interest in Drill-to-earn Opportunities
2024-08-14 - Drill-to-earn arrangements have been utilized in the Permian for years in the forms of joint ventures, farm-outs and other customizable agreements.
The ABCs of ABS: Financing Technique Shows Flexibility and Promise
2024-07-29 - As the number of ABS deals has grown, so have investors’ confidence with the asset and the types of deals they are willing to underwrite.
Investing ‘Generationally’: The Family Office View of Oil and Gas
2024-07-25 - Key family offices, whose wealth developed from other industries, are filling in oil and gas investment gaps left by the flight of endowment and institutional capital from the space.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.