US Solidifies Position as Top LNG Exporter with New Texas Facility
The United States has further cemented its position as the world’s largest exporter of liquefied natural gas (LNG) with the production of first LNG from Cheniere Energy’s new Texas facility. This development marks the second new US export plant to come online this year, increasing supplies of the superchilled gas.
Cheniere’s Corpus Christi Expansion Project
Cheniere Energy’s new Corpus Christi, Texas, plant has produced its first LNG, just two and a half years after the company gave the green light to its main contractor, Bechtel Energy, to build the 10 million metric tonnes per annum (mtpa) plant. The facility’s Train 1 can produce 1.5 mtpa, with commissioning currently underway and substantial completion of the processing unit expected by March 30.
Progress Update
As of November 30, the overall completion of the Corpus Christi Stage 3 expansion project stood at 75.9%. The new plant consists of seven midscale trains that will produce over 10 mtpa when fully operational. This expansion project joins an existing Corpus Christi facility that can produce 15 mtpa.
Rival Venture Global LNG’s Plaquemines Plant Ramps Up
Meanwhile, rival Venture Global LNG’s Plaquemines export plant in Louisiana has also started producing LNG. Last week, the tanker Venture Bayou departed the facility, carrying the first LNG cargo produced at the plant, bound for Germany. According to preliminary data from financial firm LSEG, Plaquemines is ramping up its gas usage, pulling over 600 million cubic feet per day over the weekend and expected to pull 527 mmcf on Monday.
Market Impact
Cheniere Energy’s shares rose slightly to $211.32 in mid-morning trading on Monday, following the announcement. The increased production of LNG from these new facilities is expected to keep the US as the top exporter of LNG in 2025.
Leave a Reply