RBN estimates that combined natural gas production of the equity partners in LNG Canada rose 0.03 Bcf/d in October to a record high of 1.92 Bcf/d (combined height of the colored bars in top chart below). The small increase comes on the heels of a gain in September of a more sizeable 0.15 Bcf/d, which was reported at the same time as the October data due to a reporting delay with the source. Note that we are now including the 0.15 Bcf/d supply commitment of ARC Resources as part of Shell Canada’s estimated supply given the disclosure that ARC’s supply agreement to LNG Canada is with Shell. The October record nudged just ahead of the previous high of 1.91 Bcf/d set in April.
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- Analyst Insight
LNG Canada Partners’ July Gas Production Recovery Led Solely by Petronas
Petronas led a July 2023 recovery in gas production for the LNG Canada partnership, sending output to just short of the record production reached in April 2023. RBN believes that first gas could be flowing to LNG Canada in less than one year.
- Analyst Insight
LNG Canada Partners’ August Gas Production Little Changed Versus July
Combined August 2023 natural gas production for the equity partners in LNG Canada fell slightly versus July. Overall production remains short of of the 2.1 Bcf/d commitment by about 360 MMcf/d, but there remains plenty of time for the partners to further grow production prior to initial start up of test flows of gas to LNG Canada, which we estimate will begin in mid-2024.
- Analyst Insight
LNG Canada Partners’ December Gas Production Achieves New Record to Close out 2023
Combined natural gas production for the equity partners in LNG Canada reached a new record in December 2023 of 1.93 Bcf/d. The partnership remains firmly on track to reach the 2.1 Bcf/d intake threshold for LNG Canada later this year.
