DENVER, CO–(Marketwired – Mar 4, 2015) – The president of the Swiss/Norwegian International Gas Union told reporters last week that destination clauses on contracts for liquefied natural gas (LNG) shipments “will soon be a thing of the past because of the shale revolution in the United States,” according to Reuters.
New LNG Market Dynamic
The shale boom flipped the U.S. LNG market upside down in just over a decade — converting the U.S. from an importer of LNG into a soon-to-be exporter.
To accomplish this, billions of dollars of capital have been raised and new companies have been built to take the natural gas from U.S. producers and supercool it into liquid form for shipping abroad. A number of U.S. LNG export plants are in the design phase, and some plants are well under construction.
First movers have presold their planned output capacity in large part to Asian and European buyers. In fact, LNG plant developers in the U.S. have announced plans to export 50 million tonnes a year from projects going up along the Gulf Coast by 2018.
First to Market: Cheniere Energy
If projections hold, Cheniere Energy (
The Future of LNG: An Oil & Gas 360® Exclusive Interview with Cheniere Energy’s Anatol Feygin
As part of Oil & Gas 360®‘s “Top Minds in the Business” series, in this exclusive interview Oil & Gas 360® discussed the future of LNG, U.S. export laws, global LNG markets and commodities price environments with Anatol Feygin, Senior Vice President of Strategy & Corporate Development for Cheniere Energy.
“We expect to see continued growth in demand out of non-OECD Asia especially, and we do think that LNG growth in Europe will continue… we think the North American market in particular offers some very attractive advantages in how the LNG is priced and sourced,” Feygin told Oil & Gas 360®.
This and other exclusive interviews with top oil and gas industry executives may be viewed at http://www.oilandgas360.com/category/videos/.
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