Australia quickly knocked off its 'biggest LNG Supplier' perch by USA

Squire

Active member
Australia took 4 decades to get there while the USA rose from the bottom to the top of the heap in 3 years.

It is evident that Australia will face strong competition for LNG production investments because MNCs all complain that Australian LNG projects cost at least 30% more than international norms, and Australian projects always complete years late in their schedule.

It will be interesting to see whether the USA can maintain the growth rate.

Natural gas is seen as the lesser evil of carbon fuels at this time and countries with large reserves are investing in increased production capacity in case natural gas becomes a stranded resource if opinions change as to its culpability for environmental health degradation.

Meanwhile, Australians will continue to pay higher prices for natural gas than foreign buyers pay for Australian natural gas.

https://www.aljazeera.com/economy/2022/1/4/us-becomes-worlds-top-lng-exporter-for-first-time-ever

US becomes world’s top LNG exporter for first time ever
Output from American LNG facilities outpaced Qatar in December, according to data tracked by Bloomberg, but the US’s top spot could be short-lived.

Natural gas production in the United States has surged by roughly 70 percent from 2010 and the nation is expected to have the world’s largest export capacity by the end of 2022 [File: Bartek Sadowski/Bloomberg]
By Stephen Stapczynski and Sergio ChapaBloomberg
Published On 4 Jan 2022

The U.S. became the world’s No. 1 exporter of liquefied natural gas for the first time ever last month, as deliveries surged to energy-starved Europe.
Output from American facilities edged above Qatar in December after a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data compiled by Bloomberg. Cheniere Energy Inc. said last month that a new production unit at its Sabine Pass plant in Louisiana produced its first cargo.


Graphic showing ship tracking data for LNG exports from the US, Australia and Qatar

A shale gas revolution, coupled with billions of dollars of investments in liquefaction facilities, transformed the U.S. from a net LNG importer to a top exporter in less than a decade. Gas production has surged by roughly 70% from 2010 and the nation is expected to have the world’s largest export capacity by the end of 2022 once Venture Global LNG’s Calcasieu Pass terminal comes online.
But the U.S.’s position as top LNG shipper may be short-lived. Exports were just a hair above those from Qatar and Australia, and any production issues could affect the rankings. Looking further out, Qatar is planning a gargantuan export project that will come online in the late 2020s, which could cement the middle eastern nation as the top supplier of the fuel.
“Qatar and the U.S. will be vying for being the largest LNG producers in the world over the next decade,” said Muqsit Ashraf, senior managing director of Accenture’s global energy practice.
In the meantime, the jump in U.S. LNG exports will help ease a global supply crunch. Europe is facing a winter energy crisis as utilities grapple with seasonally low natural gas inventories. Overseas buyers purchased 13% of U.S. gas production in December, a seven-fold increase from five years earlier when most of the infrastructure required to ship the fuel out of the country didn’t yet exist.
U.S. LNG export terminals sent out a record 1,043 cargoes in 2021, with Asian nations making up nearly half of the destinations and Europe making up one-third, ship tracking data compiled by Bloomberg shows.
 

HBS Guy

Head Honcho 💉💉
Staff member
Natural gas is worse than coal for CO2 emissions. Also there are fugitive methane emissions.
 

Squire

Active member
Natural gas is worse than coal for CO2 emissions. Also there are fugitive methane emissions.
So the world is wrong in closing coal power stations and replacing them with natural gas power generation?

https://group.met.com/fyouture/natural-gas-vs-coal/66

...
Natural gas vs coal: carbon emissions
Natural gas, coal, diesel: these fuels emit different amounts of carbon dioxide. According to the U.S. Energy Information Administration, natural gas emits almost 50% less CO2 than coal. Different types of coal produce different amounts of CO2 while burning. ...
 
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