The big Freeport LNG export terminal in Texas is not expected to be fully operational (100%) until March, after the second dock is completed.
The first dock however, which has 85% of the capacity, is currently expected to start operating this November. It was expected in October, but has slipped a month.
The Germans are going gangbusters on increasing their LNG import capacity. They are building a 26km pipeline from the port at Willhelmshaven to a storage facility, normally a 5-6 year project, by year’s end. All the stops have been pulled out. Environmental Impact Statements have been waived, rather than delayed, by a special law passed and signed
Spending is off the hook to ramp up LNG capacity globally - now on track to increase 20 times over 2020, by 2024. 20 times, not 20%. Iraq started exporting LNG for the first time this year. Mozambique is on track to start this year as well (lots of investment going in there) Qatar, already in the top three exporters has plans to increase capacity 2/3rds more over the coming decade.
The invasion of the Ukraine was a watershed event in the LNG market. It is a shockingly rapid transition, by historical norms. Russia is the huge loser. Biggest winners are the USA and Qatar (in total dollars, in percentage terms, places like Algeria, Mozambique and possibly Egypt are poised for growth booms).
Russia had the third largest LNG expansion plans in the World at the start of the year (Arctic LNG 2 project), but those projects are now on hold as foreign partners (TotalEnergies and JOGMEC) have halted future spending. Even the Prime construction contractor (Linde) has walked off the job.
Thanks for the LNG update.
I was going to research Freeport’s status after PIF’s morning update but got sidetracked.
Good news!
Germany has themselves to blame for their energy reliance on RuZZia and sad state of their military. Trump pushed Merkel hard to increase defense spending and cancel NS2.
It took this invasion to make the change. As they say, Be the German change you want to see. Or something like that.