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Cheniere founder Charif Souki. He says Driftwood LNG will shatter a business model based on long-term, fixed-rate contracts. Driftwood LNG will offer cargoes at US$8/ mBtu “for an initial 7 mta for contracts of up to eight years, from 2023”, he told Gastech in April.
backers, this Port Fourchonlike project still has ground to make up.
Outlook: Souki quit Cheniere because his bullish perspective clashed with the energy company’s bearish demand expectations. Team Tellurian has experience and a point to prove.
Jefferson County-based Golden Pass has powerful backers in energy giants Qatar Petroleum, ConocoPhillips and ExxonMobil. This US$10Bn project is the cornerstone of Qatar’s plan to build a global LNG portfolio, split between domestic and international production. FERC approved the Golden Pass Products venture in January.
Outlook: Jordan Cove should become the first LNG-export project on the US west coast. The question is, how soon?
Start date: on hold Volumes: 16.45 mta/24 mta
Outlook: an FID may be some way off.
Outlook: this project may lead the pack, given its energy industry backing and strategic importance.
Shell is focusing on cutting costs as it absorbs BG's business. It has halted new LNG FIDs. When that changes, it plans to reach FID on Sakhalin III in eastern Russia first. North America export projects Lake Charles LNG and LNG Canada have slipped down Shell’s list of priorities.
Monkey Island LNG, Louisiana, US
Fourchon LNG, Louisiana, US Start date: 2022 Volumes: 5 mta Fourchon LNG plans to export up to 5 mta from Port Fourchon, near Belle Pass in Louisiana, completing the US$888M project in two phases, starting at 2 mta. Owner Energy World is seeking offtake agreements in Asia, but will reserve 500,000 tonnes a year for domestic use, providing LNG as marine fuel to offshore supply vessels in the Gulf of Mexico via a dedicated berth loading LNG onto carriers of size 180,000 m3. This could position Port Fourchon as an LNG supply hub serving the Caribbean. It hopes to start construction late in 2019. Outlook: a sophisticated business plan positions Port Fourchon as a hub for LNG-fuelled vessels for the Americas.
Golden Pass LNG, Texas, US Start date: TBC Volumes: 15.6 mta
Jordan Cove, Oregon, US Start date: 2024 Volumes: 7.8 mta Veresen-backed Jordan Cove LNG is gathering momentum. In July, it awarded the EPC contract to KBJ – a joint venture between Kiewit Energy, Black &
Veatch Construction and JGC US Projects. It also announced that the deepwater terminal at Coos Bay on the US west coast will use B&V’s Prico technology. Expect the US$10Bn project to reach an FID in 2019, if discussions with prospective offtakers go to plan.
Lake Charles LNG, Louisiana, US LNG Canada, British Columbia, Canada
Outlook: expect a much tighter market before Shell fires up these two projects.
Magnolia LNG, Louisiana, US Start date: TBC Volumes: 8 mta LNG Ltd-backed Magnolia LNG is a midscale project based at Lake Charles in Louisiana, comprising four trains producing up to 2 mta each. It has a 20-year agreement to source feed gas using the Kinder Morgan Louisiana pipeline. Meridian LNG has agreed capacity rights for up to 2 mta, but Magnolia needs additional 20-year offtake agreements to reach an FID.
Start date: 2022 Volumes: 15.75 mta Southern California Telephone Co subsidiary Monkey Island LNG hopes to reach an FID on its Cameron Parish project in Louisiana by year-end 2020. The company has agreed a 20-year, fixed-price agreement to source natural gas and has
Shell has put the Lake Charles LNG project on hold. Credit: BG
G2 LNG, Louisiana, US Start date: TBC Volumes: 15.4 mta Backed by a former state governor, this US$11Bn project is Louisiana’s fourth-largest capital investment scheme. FERC terminated its application for permits earlier this year, after G2 scaled up its proposal, adding 200 hectares and plans for small-scale exports to Latin America and the Caribbean. G2 intends to apply again. Outlook: despite powerful
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LNG World Shipping | November/December 2017