LNG exports will be the biggest driver of demand growth for the Lower 48 natural gas market over the next five years. After a year of oversupply in 2023, export capacity additions will help to balance the market and support gas prices in 2024 as the glut spills over into next year. Beyond 2024, higher export volumes will lead to tighter balances and price spikes. As supply struggles to keep up with new export capacity, the timing of pipeline expansions will be critical for balancing the market. The bulk of new LNG export projects are sited along a small stretch of the Texas-Louisiana coastline and more pipeline capacity will be needed to move incremental feedgas into this area and across the “last mile” to the facilities. In today’s RBN blog, we begin a series delving into the planned pipeline expansions lining up to serve LNG demand along the Gulf Coast.
The monthly and weekly Propane Billboard reports feature insightful commentary and analysis of historical and anticipated trends in the U.S with a deep dive into the propane supply and demand balance by PADD. It includes a custom 1-year forecast with commentary and analysis on emerging market opportunities.
Before we dive into our discussion about recently completed and planned pipeline projects along the Gulf Coast, let’s quickly review the LNG export projects that are driving their development. Figure 1 summarizes the LNG export facilities already operating (green diamonds) in the region, including ones with planned expansions, along with greenfield projects that fall into one of three categories: projects that are already greenlighted and under construction, or in the case of Calcasieu Pass, commissioning (blue diamonds); projects that are likely to reach final investment decisions (FID) within a year (dark orange diamonds); and projects that are probable for reaching FID in the next 1-3 years (lighter orange diamonds). Note that these are just a subset of the nearly 30 LNG export projects we track in our LNG Voyager report that are jockeying for a piece of the global gas market. For the purposes of this blog series, however, we’ll focus on the projects that are well on their way or have significant momentum toward moving ahead.
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About the song
“Gotta Get Over” was written by Doyle Bramhall II, Justin Stanley and Nikka Costa. It appears as the fourth song on Eric Clapton's 19th studio album, Old Sock. It was released as a digital download and CD single in February 2013. The song features Chaka Khan on backing vocals. It has a groove that harkens back to Clapton’s Derek and the Dominos days and features some wah-wah guitar fills that would have fit in with his days with Cream. Personnel on the record were: Eric Clapton (lead vocal, guitars), Doyle Bramhall II (guitars, backing vocals), Greg Leisz (steel guitar), Tim Carmon (Hammond B3 organ), Chris Stainton (Clavinet, Fender Rhodes electric piano), Willie Weeks (bass), Steve Gadd (drums), and Sharon White, Michelle John, Julie Clapton (backing vocals).
Old Sock became the name of the album after Clapton sent David Bowie a compliment on his single, “Where Are We Now?” Bowie replied back appreciatively, referring to Clapton as “Old Sock,” whereupon Clapton asked permission to use the term for the album title. The LP features several blues covers and two original songs, with several guest artists sitting in, including Taj Mahal, Steve Winwood, Paul McCartney and J.J. Cale. It was Cale’s last recorded contribution before his death in July 2013. The album was recorded between 2012 and 2013 and produced by Eric Clapton, Doyle Bramhall II, Justin Stanley and Simon Climie. Released in March 2013, it went to #7 on the Billboard Top 200 Albums chart. Two singles were released from the LP.
Eric Clapton is an English guitarist, singer and songwriter. He is always ranked in the Top 10 on any list of the greatest guitarists of all time. His interpretive playing of Freddie King’s guitar stylings on the John Mayall and the Bluesbreakers’ Beano album in 1966 influenced generations of rock and blues guitarists. His professional career started with The Yardbirds, then John Mayall, Cream, Blind Faith, and Derek and the Dominos, before starting his long solo career in 1970. As a solo artist, he has released 21 studio albums, 15 live albums, 21 compilation albums, seven soundtrack albums, six collaborative albums and 81 singles. He has sold more than 280 million records worldwide. He has won 18 Grammy Awards, one Brit Award, four Ivor Novello Awards, and was awarded a CME. He is the only three-time inductee into the Rock and Roll Hall of Fame, once as a solo artist, and then as a member of The Yardbirds and Cream. In 1988, Clapton founded the Crossroads Centre in Antiqua, a medical facility for recovering substance abusers. He has produced several large Crossroads Festivals over the years, with earnings going to help fund the facility. Clapton continues to record and tour.
