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US LNG developers are on track to win approval for three new export projects capable of processing 5.1 bcf/d of gas in the first half of this year, i.e. Record volume of new LNG projects in any year.
the new The developments put the US on track to export 12.1 bcf/d this year and 12.7 bcf/d next year, which will propel the US forward in its role as the world’s largest producer and exporter of LNG.
“We expect global demand for LNG to grow from 399 million tons in 2022 to 627 million tons by 2035, an increase of more than 50 percent,” Michael Stoppard, head of global gas strategy at S&P Global Commodity Insights, told Reuters.
The American Venture Global source is It is set to become Germany’s largest LNG supplierAfter signing a 20-year agreement to supply 2.25 million metric tons per year of CP2 LNG, the company’s third LNG export project is now under development in Louisiana.
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U.S. natural gas futures jumped nearly 5% on Friday, to their highest levels in nearly four months, after a Decline in US production in recent weeks Warm weather is expected to continue into early July.
Texas power grid operator ERCOT once again expected electricity use to break records, through June 26-27.
Texas gets most of its electricity from gas-fired plants: in 2022, 49% of the state’s energy came from gas-fired plants, with the remainder coming from wind (22%), coal (16%), nuclear (8%) and solar (4%). %).
Natural Gas Futures Closed First Month (NG1:COM) +4.6% Friday, to settle at $2.729/mmbtu, the highest settlement since March 3; Over the course of the week, the contract rose 3.7%, its third consecutive weekly rise.
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