SUGAR LAND, TX–(Marketwired – May 27, 2015) – Researched by Industrial Info Resources (Sugar Land, Texas) — The month of May has brought steps both forward and backward for liquefied natural gas (LNG) projects in North America and Australia. Certain projects in the United States are making headway in development, while others in Canada and Australia have faced setbacks.
On May 7, The U.S. Department of Energy (DoE) finalized its permission, initially granted in September 2013, allowing Dominion Resources’ (NYSE:D) (Richmond, Virginia) Cove Point LNG facility in Calvert County, Maryland, to export up to 0.77 billion cubic feet per day (Bcf/d) of LNG to countries without a free trade agreement (FTA) with the U.S.
Less than a week later, the agency granted export permission to Cheniere Energy’s (NYSE:LNG) (Houston, Texas) planned facility in Corpus Christi, Texas, allowing it to export up to 2.1 Bcf/d to non-FTA countries. The permission allowed Cheniere to make an almost immediate final investment decision on the facility and finalize a deal made with Australia’s Woodside Petroleum to purchase 850,000 metric tons per year of LNG for 20 years when the facility’s second train begins operating.
While these projects are gearing up, others are facing delays. In western Canada, the Lax Kw’alaams aboriginal group in British Columbia rejected a C$1.15 billion (US$960 million) offer to construct the Pacific Northwest LNG Project on its ancestral lands. In Australia, BHP Billiton’s petroleum president, Tim Cutt, announced that it was lowering the priority of its Scarborough floating LNG project with Exxon Mobil Corporation in Australia due to low global LNG prices.
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