Moody’s: “Vast Majority” of LNG Export Projects Will be Canceled

The analysts at Moody’s Investors Service have turned decidedly bearish on the plethora of proposed LNG (liquefied natural gas) export plants in both the U.S. and Canada. There are nearly 30 LNG export plants proposed in the U.S., 18 proposed projects in western Canada, and 4 in eastern Canada. One of them–Cove Point, Maryland, being built by Dominion–is right now in the midst of construction. The Cove Point plant will export Marcellus and Utica Shale gas to Japan and India. A number of the other LNG plants would also export Marcellus/Utica gas–in particular the four proposed plants in Nova Scotia (see Canadian LNG Exports, New England Pipelines & the Marcellus). However, according to Moody’s, the “vast majority” of proposed LNG projects, including the four in Nova Scotia, will never happen…

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