Rigzone - The Great American LNG Comeback

November 16, 2020 – Rigzone

The Great American LNG Comeback

By Jude Clemente

After a record 2019, it has been a rocky ride through the pandemic for the U.S. LNG export business. Sunken prices and demand globally have shrunk our shipments abroad. In January, exports were up over 9 billion cubic feet per day (Bcf/d) before steadily falling to 2.5 Bcf/d at the end of August, with facility utilization bottoming out at 20 percent. From April to November, there were nearly 180 cargo cancelations, and RBN Energy estimates that a whopping 550 Bcf of gas was pushed back into the U.S. market in summer alone.

But U.S. LNG exports have been picking up in recent weeks, as the figure in this article shows. Asian prices have been rising quickly amid rebounding demand and forecasts of a frigid winter. Even through hurricane-related shut-ins in our shipment zone along the Gulf of Mexico, U.S. LNG demand has been at record levels of over 10 Bcf/d in recent weeks. All six of our facilities have been online.

Read the full article here: https://www.rigzone.com/news/the_great_american_lng_comeback-16-nov-2020-163861-article/