U.S. LNG EXPORT OUTLOOK - EIA
Uncertain outlook for U.S. LNG, EIA warns
Posted on March 4, 2016 | By James Osborne
With great fanfare last month, federal officials and oil and gas executives trumpeted the first shipment of U.S. liquefied natural gas abroad – from Cheniere Energy’s new export terminal on the Louisiana Gulf Coast.
With four more terminals under construction in Texas, Louisiana and Maryland and several more proposed, the United States appears to be positioned to take over as a major gas supplier worldwide.
But the horizon is not entirely welcoming, the U.S. Energy Information Administration warned in a report Friday – joining a chorus of energy analysts who wonder whether low prices in world gas markets might slow development.
“Market conditions have changed since many LNG export projects in the United States were initially proposed,” the EIA wrote Friday. “Proposed LNG terminals in the United States face not only increased competition from other domestic and foreign terminals that have been completed, but they also face uncertainty in global LNG demand.”
The agency cites falling demand last year from China, Japan and South Korea, the world’s three largest LNG importers. That was first time those numbers had fallen since 2009, when the global financial crisis rattled energy markets worldwide.
At the same time, Australia – one of the world’s largest LNG suppliers – just opened two new export terminals on its eastern coast.
Drawing from abundant natural gas reserves along the East Coast’s Appalachian mountains, the United States is hoped by some of its political leaders to one day take a leading role in the international gas market – potentially pushing out geopolitical rivals like Russia.
That goal could well be within sight.
According to EIA, all the U.S. export terminals that are either finished or under construction have the capacity to export more than 10.5 billion cubic feet of gas a day.
In 2014 that would have placed the United States second in the world for LNG exports, slightly behind Qatar, according to data from the Swiss trade group International Gas Union.
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Replies to This Discussion
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Permalink Reply by GoRicky on
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Yeah - it's all rose-colored glasses from here on! What the current administration has fought (REAL HARD) to do will take YEARS to amend/convert/replace anything close to what the entrenched bureaucrats hate most... common sense.
By the way - has anyone ever met piks leep (spell backwards)? How could he respond to these threads 24 hours a day, omnisciently knowing all these land, seismic and geological details on every play in the continental United States... while still trying to make an honest living?
This smells to the high heavens. And, there's more that him on this website with the same goal. Nom de plume 'information'?
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Permalink Reply by Skip Peel - Mineral Consultant on
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LOL! I've been posting to GHS approaching eight years now. And I have met some of our long time members so they may choose to confirm that I am real. In fact I've helped quite a few of them with questions and problems with their mineral interests. Until such time as our country is in a supply deficit regarding oil and gas I won't expend any time worrying that there are places that are off limits to drilling. I don't use a non de plume. And you seem to be more than a little paranoid.
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Permalink Reply by RBT on -
Couldn't resist weighing in on probably the most ridiculous post of all time on HS. I know Skip Peel fairly well; have spoken with him several times at NARO conferences(he makes them all), have leased him several acres in the extreme southeast part of the play that he chose to take a chance on, can depend on him to offer his advice/opinion on any o,g,&m concerns.
He is extremely well-informed, and is committed to staying on top of any and everything that is happening in his field. He comes well-sourced, and provides much needed information to this website! Please continue to share to this site, Skip!
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Permalink Reply by Two Dogs, Pirate on
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I know Skip and he is real. Somewhere on gohaynesvilleshale.com there is a picture of us together at an oyster bar in Shreveport. The oil & gas biz is his "honest living" so his research helps us who want to stay in the know on what is going on. Thanks Skip for what you do.
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Permalink Reply by Skip Peel - Mineral Consultant on
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You're welcome, TD.P. We ought to get together at the Oyster Bar again the next time Keith is in town.
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