Posted on 08/25/2022 12:09:23 PM PDT by BeauBo
Investments in new liquified natural gas (LNG) infrastructure are set to surge, reaching $42 billion annually in 2024, Rystad Energy research shows. These greenfield investments are 20 times the amount in 2020 when just $2 billion was invested...
Russian volumes are primarily dependent on the successful completion of the Novatek-operated Arctic LNG 2 project, which is potentially in jeopardy as sanctions against Russia over the Ukraine conflict have led to delays in the commissioning of Train 2 and Train 3. Project partners TotalEnergies and JOGMEC have halted all financing related to the scheme in the Russia-Ukraine war, followed by the withdrawal of chemicals giant Linde as a contractor...
The U.S. is set to solidify its place as a top LNG exporter... The $10 billion Golden Pass LNG project in Texas, a joint venture between QatarEnergy (70%) and ExxonMobil (30%), is expected to start production by 2024, adding export capabilities to the Sabine Pass LNG terminal totaling around 18 Mtpa. Venture Global’s Plaquemines LNG in Louisiana – a $13.2 billion development sanctioned earlier this year – is expected to produce about 24 Mtpa and start up in 2025...
Qatar, already a major producer, aims to boost LNG export capacity to 126 Mtpa by 2027 from a current 77 Mtpa. International industry heavyweights ExxonMobil, Shell, TotalEnergies, Eni and ConocoPhillips have been chosen to join state-owned QatarEnergy in the North Field East...
Projects that have been approved or are currently being developed will recover about 300 Tcf of LNG, led by the US with approximately 97 Tcf, then Qatar with about 52 Tcf...
Total LNG supply is expected to almost double in the coming years, growing from around 380 million tonnes per annum (Mtpa) in 2021 to about 636 Mtpa in 2030.
(Excerpt) Read more at oilprice.com ...
The Dollars and Euros needed to finance new LNG capacity to replace Russian supplies, are flowing in a tidal wave.
Once this investment capital is sunk, there is little incentive to ever return to Russia.
Putin has created the most historic cratering of Russia's essential natural gas industry (1/4 of Russia's GDP) ever.
Russia has other means to sell their products. Hell, even Saudi Arabia is buying their cheap product for resale to us.
BRICS can get along without the West.
My calendar says it’s 2022, not 2024.
“Russia has other means to sell their products. Hell, even Saudi Arabia is buying their cheap product for resale to us.
BRICS can get along without the West.”
With the dollar’s run as the world’s reserve currency now ending due to our ‘punishment’ of Russia, the vast majority of the world (including Russia, China, and India) is now moving on, in their own direction, without having to answer to the West anymore - and with the prying eyes of the West no longer able to monitor them (as they could with SWIFT).
What is happening now was likely going to happen anyway, but the transition will be likely be completed in several years, rather than multiple decades.
So, TAKE THAT PUTIN!!!
You will be paying twice as much for heat this Winter to support the Ukraine war.
Do you believe that 2024 will come?
Energy markets being remade.
USA and Texas big winners!
Sidenote: Harvard’s endowment will likely be overtaken this year by another endowment as the largest in the country. Guess which one. Yale, Stanford, Princeton? No. University of Texas.
In the 1800s, the state of Texas gave alot of Texas land to the universities. The idea was the universities could lease the land to cattle ranchers and generate some money. Of course, oil was discovered on that land. UT, Texas A&M, etc are earnings millions EACH DAY from royalties.
I think Harvard endowment was worth low $50B. UT was low $40B. Harvard will be down this year because of the stock market decline. UT will go up big this year because of oil.
“Russia has other means to sell their products. Hell, even Saudi Arabia is buying their cheap product”
That is oil, not gas.
Russia does not have the physical infrastructure to resell the gas that has been going through the pipelines to Europe.
“Do you believe that 2024 will come?”
I doubt anything will stop the Earth in its orbit around the sun, so yes, 2024 will come.
Whether the US and especially Europe are still First-World then, that’s up for grabs.
So all you plebs,
go load up on all those tripled LNG STONKS right now
so we, your priviledged Betters, Insiders and Grifters (do I repeat myself?)
can off load it all at the top to you Losers, Lemmings and LiteWeights!
“Russia does not have the physical infrastructure to resell the gas that has been going through the pipelines to Europe.”
They’ll just have to use it themselves, and use the huge expanse of Siberia to service China and the rest of Asia.
Not a bad problem to have, particularly since they’ll then be TOTALLY FREE of the fangs of Greta, who had the Europeans ending gas usage anyway.
“You will be paying twice as much for heat this Winter”
And the threat of an out of control, blood-thirsty expansionist mafia-led Russia will be subdued, for the rest of Putin’s life.
And America will be strengthened by the profitable former market share that Putin has squandered.
Huge long term strategic win for AMERICA!
10% of last year’s gas exports can physically get to market in Asia, and they hope to ramp that up to 15% in the coming years, with the Power of Siberia pipeline expansion.
The rest is time zones away.
But they will be servicing China all right. That is all they will have left - like North Korea.
“With the dollar’s run as the world’s reserve currency now ending due to our ‘punishment’ of Russia”
Do you know what the key ingredient is to be a reserve currency? Running a trade deficit. That is why China can’t be the major reserve currency in the world. China wants to run trade surpluses, not deficits.
Trade deficits are necessary so that excess currency can remain in a foreign country. That excess can then be a ‘reserve’.
Here’s a hypothetical example using US and Vietnam.
US sells Vietnam $100 billion in goods. Vietnam sells US $200 billion in goods. US runs a trade deficit of $100 billion with Vietnam. Vietnam can then take the $100 billion and keep it as a “reserve”. They can keep cash, buy US treasuries, etc.
If the reverse was true, and US ran a $100 billion surplus with Vietnam, Vietnam wouldn’t have $100 billion in US cash to keep as a reserve.
So unless another country is willing to run a huge global trade deficit, they will never replace the US currency as the major international reserve.
The power of Siberia gas pipeline to China is a good start.
Catch Phrases like Peak Oil are so pre century and don’t necessarily have the numbers to back up their claims.
Americans are indeed concerned about this looming possibility.
You forgot the part where "US gets mad at Vietnam and seizes the $100 billion by freezing it, and levying crippling sanctions on Vietnam", Speedy...
“You forgot the part where “US gets mad at Vietnam and seizes the $100 billion by freezing it, and levying crippling sanctions on Vietnam”, Speedy...”
Exactly, now that we’ve PROVEN that we view our access to the financial reserves of other countries as something we can grab at will, even when WE ARE THE CAUSE of the excuse we use to grab those reserves...any country would have to be INSANE to ever trust the US again, and no country is safe trusting us.
Think about it - like Russia, Hungary doesn’t allow Grooming of children in their public schools (and elsewhere). The EU is already sanctioning Hungary over that policy, how long until we simply GRAB their dollar reserves?
And why would the US do that?
Did Vietnam illegally invade a sovereign country, starting an unnecessary war??
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