Shepstone Management Company, Inc.
The U.S. is increasing its natural gas liquefaction capacity by 1327% over the next five years and transforming the entire global LNG marketplace.
Natural gas from places such as Washington County, Pennsylvania will find its way across the entire world over the next five years. A new study from GlobalData reported on its GlobalTrade blog indicates the degree to which the U.S. is achieving energy dominance in the world, especially with respect to the global LNG marketplace. The numbers are striking.
EIA projections of U.S. LNG export capacity – a trend that will continue through 2022, according to GlobalData
The GlobalTrade article reveals total natural gas liquefaction capacity of the U.S. will grow by an incredible 1327% from 2018 and 2022. Yes, gas produced in Butler, Bradford, Lycoming, Susquehanna and Washington Counties, to name a few, is moving out across the high seas to ports around the world, delivering the benefits of clean burning, low cost energy to far-flung regions. Here are the important details (emphasis added):
The US will lead North America in terms of liquefaction capacity additions with 258.8 mtpa, increasing from 19.5 mtpa in 2017 to 287.3 mtpa by 2022. The country is expected to spend around $167.28 billion on new build liquefaction terminals during the outlook period.
“The US is adding substantial LNG liquefaction capacities, redrawing the global LNG landscape,” said Soorya Tejomoortula, oil and gas analyst at GlobalData. “Booming natural gas production, especially from shale, is driving the country’s LNG exports.”
GlobalData identifies Canada as the second highest country in North America with planned liquefaction capacity additions of around 101.1 mtpa by 2022. The country is expected to spend roughly $105.3 billion on the development of new liquefaction terminals.
“Canada is also adding considerable LNG export capacity as its natural gas exports via pipelines to its traditional market, the US, are decreasing,” said Tejomoortula. “The planned capacity additions will also simulate investment and jobs in the country. ”
Between the U.S. and Canada, nearly 360 million tons per year (mpta) of gas liquefaction capacity is being added at a cost of almost $273 billion. That’s a huge investment and this capacity will enable natural gas produced here and revitalizing rural America in the process to also revitalize other regions of the world needing it, cleaning the environment along the way by reducing emissions from burning coal, oil and wood.
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The post United States Redrawing the Global LNG Landscape appeared first on Natural Gas Now.
https://www.shaledirectories.com/blog/united-states-redrawing-the-global-lng-landscape/
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